500.3430 Optional policy provisions; insurance commissioner's approval.
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/mi/chapter-500/500-3430A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
500.3430 Optional policy provisions; insurance commissioner's approval.
Sec. 3430.
Except as provided in subsection
(2)of section 3406 (inapplicable or inconsistent provisions), no such policy delivered or issued for delivery to any person in this state shall contain provisions respecting the matters set forth in sections 3432 through 3454 unless such provisions are in the words in which the same appear in such sections: Provided, however, That the insurer may, at its option, use in lieu of any such provision a corresponding provision of different wording approved by the commissioner which is not less favorable in any respect to the insured or the beneficiary. Any such provision contained in the policy shall be preceded individually by the appropriate caption appearing in the pertinent section or, at the option of the insurer, by such appropriate individual or group captions or subcaptions as the commissioner may approve.
History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218