Michigan Laws 500.1902 – Liberal construction and application
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This chapter shall be liberally construed and applied to promote its underlying purposes which include:
(a) Protecting persons seeking insurance in this state.
Terms Used In Michigan Laws 500.1902
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- Surplus lines insurance: means insurance in this state procured from or continued or renewed with an unauthorized insurer and includes all of the following, whether effected by mail or otherwise:
(i) Insurance for which applications are solicited from persons resident or located in this state. See Michigan Laws 500.1903
(b) Permitting stable and reputable insurers to write surplus lines insurance in this state.
(c) Establishing a system of regulation which will permit an orderly access to surplus lines insurance in this state.