Sec. 404. Every like domestic, foreign, or alien insurer doing business in this state shall at all times be subject to the same standards and requirements concerning financial conditions and shall be in substantial compliance with those standards and requirements.
Mich. Comp. Laws § 500.404
Insurers; financial conditions; compliance required
Applied in 2 court decisions — leading case Allard v. Benjamin (In Re DeLorean Motor Co.) (1985)
Most recently applied in Allard v. Benjamin (In Re DeLorean Motor Co.) (June 1985)
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.