Michigan § 550.614 Papers filed with commissioner of issuing state; use, hearing, prior written approval.

Michigan Statutes

§ 550.614 — Papers filed with commissioner of issuing state; use, hearing, prior written approval.

Michigan § 550.614

Ch. 550GENERAL INSURANCE LAWS

Act 173 of 1958CREDIT INSURANCE ACT (550.601-550.624)

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Bluebook

Mich. Comp. Laws § 550.614 (2026).

Text

CREDIT INSURANCE ACT (EXCERPT) Act 173 of 1958 550.614 Papers filed with commissioner of issuing state; use, hearing, prior written approval. Sec.

14.If the commissioner notifies the insurer that the form does not comply with this subsection, it is unlawful thereafter for such insurer to issue or use such form. In such notice, the commissioner shall specify the reason for his disapproval and state that a hearing will be granted within 20 days after request in writing by the insurer. No such policy, certificate of insurance, notice of proposed insurance, nor any application, binder, endorsement or rider, shall be issued or used until the expiration of 30 days after it has been so filed, unless the commissioner shall give his prior written approval thereto.

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CREDIT INSURANCE ACT (EXCERPT) Act 173 of 1958 550.614 Papers filed with commissioner of issuing state; use, hearing, prior written approval. Sec. 14. If the commissioner notifies the insurer that the form does not comply with this subsection, it is unlawful thereafter for such insurer to issue or use such form. In such notice, the commissioner shall specify the reason for his disapproval and state that a hearing will be granted within 20 days after request in writing by the insurer. No such policy, certificate of insurance, notice of proposed insurance, nor any application, binder, endorsement or rider, shall be issued or used until the expiration of 30 days after it has been so filed, unless the commissioner shall give his prior written approval thereto.

Legislative History

1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.