Sec. 1208. An agent, during any 12-month period, may not effect insurance upon his own property, life or other risk and the property, life or other risk of his employees, employer or business associates, in excess of 15% of the total premium which he effected during that period.
Mich. Comp. Laws § 500.1208
Insurance effected by agent on certain risks; limitation
Applied in 1 court decision — leading case 161 Mich. App. 183 - Lawyers Title Insurance v. Chicago Title Insurance (1987)
Most recently applied in 161 Mich. App. 183 - Lawyers Title Insurance v. Chicago Title Insurance (July 1987)
Add. 1972, Act 133, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.