Section 500.118 - Treatment of alien insurer as foreign insurer.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.118 Treatment of alien insurer as foreign insurer.
Sec. 118.
If an alien insurer is domiciled in a country other than the United States that has an agreement with the United States whereby each agrees to treat insurers domiciled in the other country the same as insurers domiciled in its own country, the alien insurer may apply for a certificate of authority as a foreign insurer pursuant to section 424. If the certificate of authority as a foreign insurer is granted, the alien insurer shall be treated as a foreign insurer under this act, but only to the extent that the other country and its political subdivisions in which the alien insurer is domiciled actually extend like treatment to insurers domiciled in the United States.
History: Add. 1992, Act 182, Imd. Eff. Oct. 1, 1992
Popular Name: Act 218
Popular Name: Essential Insurance