(1) A reinsurance intermediary shall be subject to examination by the commissioner. The commissioner shall have access to all books, bank accounts, and records of the reinsurance intermediary in a form usable to the commissioner.
  (2) A reinsurance intermediary-manager may be examined as if it were the reinsurer.

Terms Used In Michigan Laws 500.1167

  • Commissioner: means the director. See Michigan Laws 500.102
  • Reinsurance intermediary: means a reinsurance intermediary-broker or a reinsurance intermediary-manager. See Michigan Laws 500.1151
  • Reinsurance intermediary-manager: means any person who has authority to bind or manages all or part of the assumed reinsurance business of a reinsurer, including the management of a separate division, department, or underwriting office, and acts as an agent for the reinsurer whether known as a reinsurance intermediary-manager, manager, or other similar term. See Michigan Laws 500.1151
  • Reinsurer: means any person duly authorized in this state pursuant to the applicable provisions of this act as an insurer with the authority to assume reinsurance. See Michigan Laws 500.1151
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