Loading chat...
MI HB5917
Bill
Status
9/21/2016
Primary Sponsor
Tom Barrett
Click for details
AI Summary
-
Replaces references to "commissioner" with "director" throughout the Insurance Code of 1956 regarding insurance regulatory authority.
-
Eliminates the $25.00 annual filing fee for foreign and alien insurers' annual statements by removing the requirement that insurers pay this fee to the director under section 240(1)(b).
-
Updates terminology from "agent" to "producer" in multiple fee schedules and licensing provisions related to insurance professionals.
-
Changes mandatory language from "shall" to "must" throughout sections 240 and 438 for grammatical modernization.
-
Takes effect 90 days after enactment into law.
Legislative Description
Insurance; insurers; filing fee for annual statement for foreign insurers; eliminate. Amends secs. 240 & 438 of 1956 PA 218 (MCL 500.240 & 500.438).
Insurance: insurers
Last Action
Referred To Second Reading
12/1/2016