500.202 Insurance commissioner; qualifications, office, term, appointment, approval, vacancy.
188 words·~1 min read·
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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 a stockholder or directly or indirectly connected with the management of affairs of any insurer. He shall be appointed by the governor for a term of 4 years by and with the consent of the senate.
(2)Whenever a vacancy occurs in the office of commissioner by reason of death, removal, or otherwise, the governor shall fill such vacancy by appointment, by and with the advice and consent of the senate, if in session.
History: 1956, Act 218, Eff. Jan. 1, 1957
Compiler's Notes: For transfer of the Department of Insurance and Office of the Commissioner on Insurance from the Department of Licensing and Regulation to the Department of Commerce, see E.R.O. No. 1991-9, compiled at MCL 338.3501 of the Michigan Compiled Laws.
Transfer of Power: See MCL 16.732.
Popular Name: Act 218