Michigan Laws 550.1006 – Authorized agents; requirements, duties, and restrictions; powers of commissioner
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(1) Agents licensed under chapter 12 of the insurance code of 1956, Act No. 218 of the Public Acts of 1956, to sell accident and health insurance are deemed to be health benefits agents under this act upon being authorized by a health benefit corporation and filing that authorization with the commissioner.
(2) The requirements, duties, and restrictions of insurance agents and the powers of the commissioner with respect thereto under chapter 20 of the insurance code of 1956, Act No. 218 of the Public Acts of 1956, being section 500.2001 to 500.2093 of the Michigan Compiled Laws, shall also apply to agents licensed under this act when marketing and selling health benefits to the same extent as if marketing and selling disability insurance.
Terms Used In Michigan Laws 550.1006
- Commissioner: means the commissioner of insurance. See Michigan Laws 550.1002
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Health benefit: means any benefit or service lawfully provided by a health benefit corporation. See Michigan Laws 550.1002