Sec. 2017. The following are defined as unfair methods of competition and unfair and deceptive acts or practices in the business of insurance: Issuing or delivering or permitting agents, officers, or employees to issue or deliver, agency company stock or other capital stock, or benefit certificates or shares in any common law corporation, or securities or any special or advisory board contracts or other contracts of any kind promising returns and profits as an inducement to insurance.
Mich. Comp. Laws § 500.2017
Unfair methods of competition or deception; illegal inducements
Applied in 2 court decisions — leading case 176 Mich. App. 772 - Thm, Ltd v. Commissioner of Insurance (1989)
Most recently applied in 176 Mich. App. 772 - Thm, Ltd v. Commissioner of Insurance (May 1989)
1956, Act 218, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.