500.1407 Bond; errors and omissions policy.
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/mi/chapter-500/500-1407A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
500.1407 Bond; errors and omissions policy.
Sec. 1407.
The commissioner may require a managing general agent to do both of the following:
(a)Maintain a bond in an amount acceptable to the commissioner for the protection of the insurer.
(b)Maintain an errors and omissions policy.
History: Add. 1990, Act 350, Eff. June 1, 1991
Popular Name: Act 218