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Michigan Compiled Laws, Chapter 500. Insurance Code of 1956 § 500.407

Current as of January 01, 2025 | Updated by Findlaw Staff

Sec. 407. An insurer that otherwise qualifies to transact insurance under this act may be authorized to transact any 1 kind or combination of kinds of insurance as defined in chapter 6  1 except:

(a) A life insurer is not authorized to transact any other kind of insurance except disability insurance as defined in section 606  2 unless it was engaged in transacting that other kind of insurance in this state prior to January 1, 1909.

(b) A reciprocal insurer is not authorized to transact life or health insurance.

1 M.C.L.A. § 500.600 et seq.
2 M.C.L.A. § 500.606.
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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 500. Insurance Code of 1956 § 500.407 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-500-insurance-code-of-1956/mi-comp-laws-500-407/

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