500.200 Insurance department; establishment. Sec. 200. There is hereby established a separate and distinct state department which shall be especially charged with the execution of the laws in relation to insurance and surety business and to perform such other duties as may be required by law: Provided, however, That the said department so established shall […]
500.202 Insurance commissioner; qualifications, office, term, appointment, approval, vacancy. Sec. 202. (1) The chief officer of the department shall be known as the commissioner of insurance. He shall be a citizen of this state, shall have his office at the seat of government, shall personally superintend the duties of his office, and shall not be […]
500.204 Insurance commissioner; salary; oath; bond. Sec. 204. The commissioner shall receive an annual salary as the legislature shall appropriate, payable as other state officers are paid under the accounting laws of the state. Within 15 days from the time of notice of his or her appointment, the commissioner shall take and subscribe the constitutional […]
500.205 Commissioner; powers. Sec. 205. Orders, decisions, findings, rulings, determinations, opinions, actions, and inactions of the commissioner in this act shall be made or reached in the reasonable exercise of discretion. History: Add. 1992, Act 182, Imd. Eff. Oct. 1, 1992 Popular Name: Act 218
500.206 Insurance commissioner; seal, approval, renewal. Sec. 206. The commissioner, with the approval of the governor, shall devise a seal, with suitable inscriptions, for his office, a description of which, with certificate of the approval of the governor, shall be filed in the office of the secretary of state, with an impression thereof, which seal […]
500.208 Office of financial and insurance services; offices; expense; audit. Sec. 208. The department of management and budget shall assign to the office of financial and insurance services at Lansing suitable rooms for conducting the business of the division, the necessary expense of which shall be audited by the department of management and budget. History: […]
500.210 Insurance commissioner; regulatory powers. Sec. 210. The commissioner shall promulgate rules and regulations in addition to those now specifically provided for by statute as he may deem necessary to effectuate the purposes and to execute and enforce the provisions of the insurance laws of this state in accordance with the provisions of Act No. […]
500.212 Deputies, chief clerk and accountant, examiners, clerks, actuaries, and other assistants; oath; powers and duties; hearings; rights of parties; revocation of appointments, designations, and delegations of authority; compensation. Sec. 212. (1) The commissioner may appoint a first deputy and second deputy who shall subscribe and file the constitutional oath of office. Either of these […]
500.214 Commissioner; immunity from civil liability; conditions. Sec. 214. (1) The commissioner or his or her representatives are immune from civil liability, both personally and professionally, for any of their acts or omissions if all of the following are met: (a) The commissioner or his or her representatives acted or reasonably believed he or she […]
500.216 Insurance commissioner and employees; traveling and other expenses. Sec. 216. The necessary traveling and other necessary and actual expenses of the commissioner, his deputies, examiners, actuaries or other employees, in discharging the duties imposed by this code, shall in all cases be allowed and audited by the accounting division of the department of administration, […]
500.220 Insurance commissioner and employees; service fees, prohibited gifts. Sec. 220. The commissioner shall not retain as perquisites any fees or any moneys received by him directly or indirectly, for the performance of duties connected with his office. No insurance corporation or insurer or any officer, director, or agent thereof shall directly or indirectly, pay […]
500.221 Insurance compliance self-evaluative audit document; privilege; disclosure; exceptions; definitions. Sec. 221. (1) Except as otherwise provided in this section, an insurance compliance self-evaluative audit document is privileged information and is not discoverable or admissible as evidence in a civil, criminal, or administrative proceeding. (2) Except as otherwise provided in this section, a person involved […]
500.222 Examination of insurers; examination report; hearing; public inspection; disclosure of confidential information; effect of current examination; director’s authority to terminate or suspend examination not limited; limitation on foreign insurer examination. Sec. 222. (1) The director, in person or by any of his or her authorized deputies or examiners, may examine any or all of […]
500.223 Application for certificate of authority; fee; withdrawal of application; reapplication fee; disposition. Sec. 223. Any insurer making application for an original certificate of authority to transact insurance, or applying for a reissuance of a certificate of authority after the certificate has been terminated for any reason, shall pay to the commissioner the fee of […]
500.224 Examinations and investigations of insurers; expenses; statement to insurers; employment of expert personnel; regulatory fees; expense of administering delinquency proceeding; definitions. Sec. 224. (1) All actual and necessary expenses incurred in connection with the examination or other investigation of an insurer or other person regulated under the director’s authority must be certified by the […]
500.224a Report relating to regulatory fees. Sec. 224a. Beginning June 1, 1995 and annually thereafter the commissioner shall report to the senate and house of representatives standing committees on insurance issues on revenues raised by the regulatory fees required by the amendatory act that added this section, how the regulatory fees were spread among domestic, […]
500.224b Repealed. 2008, Act 440, Eff. Apr. 1, 2009. Compiler’s Notes: The repealed section pertained to quality assurance assessment fee.Popular Name: Act 218
500.225 Insurance bureau fund; creation; deposit of fees; reversion to general fund; use of fund. Sec. 225. The insurance bureau fund is created in the state treasury as a separate fund. Except as otherwise specifically provided, all fees collected pursuant to this act or under the commissioner’s authority shall be deposited in the insurance bureau […]
500.225a Contract for services, supplies, and materials. Sec. 225a. The commissioner shall contract for services, supplies, and materials pursuant to Act No. 428 of the Public Acts of 1980, being sections 450.771 to 450.776 of the Michigan Compiled Laws, and pursuant to the competitive bid requirements of the management and budget act, Act No. 431 […]
500.226 Disclosure of confidential information; penalty. Sec. 226. The commissioner or any of the commissioner’s employees or agents shall not divulge confidential information acquired in the course of an examination or investigation except as permitted by section 222(7). A person appointed or acting under this act who discloses any fact or information that is confidential […]
