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Michigan Compiled Laws, Chapter 550. General Insurance Laws § 550.919

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

Sec. 19. (1) A TPA advisory board is created. The board shall consist of 7 members appointed by the commissioner, at least 4 of whom shall be individuals employed by TPAs who are not in the employ of a carrier and who do not have a significant ownership interest in a carrier. The members of the board shall serve 3-year terms and shall serve without compensation but shall be reimbursed for their actual and necessary expenses incurred in the performance of their duties. The board shall advise the commissioner as to the operations of this act, including:

(a) The procedure for granting licenses and certificates.

(b) The subject areas for the written examination for managers.

(c) The implementation of this act.

(d) Making recommendations to the commissioner for guidelines for the implementation of sections 40 to 44.  1

(e) Making recommendations to the commissioner regarding the regulatory standards for excess loss insurance required by section 32(4). 2

(2) The board shall issue a report to the commissioner on the operations of this act not later than 3 years after the effective date of this act.

1 M.C.L.A. §§ 550.940 to 550.944.
2 M.C.L.A. § 550.932.
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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 550. General Insurance Laws § 550.919 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-550-general-insurance-laws/mi-comp-laws-550-919/

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