Michigan Laws 500.5110 – Determining violation of MCL 500.5106
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 500.5110
- Acquiring insurer: means a domestic stock insurer, domestic mutual insurer, or reciprocal or inter-insurance exchange organized pursuant to this chapter. See Michigan Laws 500.5100
- Commissioner: means the director. See Michigan Laws 500.102
- Insurer: means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. See Michigan Laws 500.106
- Probable cause: A reasonable ground for belief that the offender violated a specific law.
Upon probable cause the commissioner may examine and investigate into the affairs of an acquiring insurer to determine whether the insurer has been or is engaged in any practice in violation of section 5106.