Michigan Laws 500.1903 – Definitions; conflicting provisions
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(1) As used in this chapter:
(a) “Eligible unauthorized insurer” means an insurer not authorized to transact insurance in this state but eligible to write insurance business under this chapter.
Terms Used In Michigan Laws 500.1903
- Association: means an association registered under section 1930. See Michigan Laws 500.1903
- 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
- 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
(b) “Association” means an association registered under section 1930.
(c) “Licensee” means a person licensed under this chapter.
(d) “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.
(ii) Insurance for which contracts of insurance are issued or delivered to persons resident or located in this state.
(iii) Insurance that is procured through negotiations or by an application occurring in whole or in part in this state or made within or from within this state.
(iv) Insurance for which premiums, in whole or in part, are remitted directly or indirectly within or from within this state.
(2) The definitions contained in subsection (1), unless the context otherwise requires, shall apply to the use of the defined terms in this chapter and shall control in the interpretation of this chapter.
(3) The definitions contained in other chapters of this act shall apply to the terms used in this chapter unless otherwise specifically provided in this chapter.
(4) Nothing contained in this section shall supersede the provisions of section 402b and in the event of conflict between the provision herein and section 402b, the latter shall govern.