A bill to amend 1956 PA 218, entitled “The insurance code of 1956,” by amending section 127 (MCL 500.127), as added by 2009 PA 230.
The bill stipulates that individuals selling or offering these products do not need a certificate of authority or license under the 1956 act, provided they comply with the 2009 act. It also states that products issued before January 8, 2010, cannot be considered insurance.
Co-sponsored by Sens.
Referred to the Committee on Regulatory Affairs
