A bill to amend 1956 PA 218, entitled “The insurance code of 1956,” by amending section 2024a (MCL 500.2024a), as added by 1989 PA 68.
House Bill 4704 would amend the Insurance Code to increase (from $5 to $50) the cap on gifts of merchandise that life insurers can provide applicants for a life insurance policy, allow the gifts to be given to policyholders as well as to applicants, and change the cap to apply annually and not on a one-time or cumulative basis.
Introduced
by
Referred to the Committee on Insurance and Financial Services
Reported without amendment
Passed in the House 88 to 20 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
Referred to the Committee on Finance, Insurance, and Consumer Protection
