Section 500.1218 - Termination of solicitor's authority to represent agent; notice; disclosure; liability of agent.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.1218 Termination of solicitor's authority to represent agent; notice; disclosure; liability of agent.
Sec. 1218.
An agent shall immediately notify the commissioner of the termination of a solicitor's authority to represent the agent. The notice shall include full disclosure, with supporting evidence, of acts or omissions by the solicitor which reasonably may be construed to be a violation of this act or of any other statute and any act or omissions that may reflect on his qualification as a solicitor or which adversely affect the public interest. There shall not be any liability on the part of, and a cause of action of any nature shall not arise against, an agent for any statements or evidence provided in compliance with this section.
History: Add. 1972, Act 133, Eff. Mar. 30, 1973
Popular Name: Act 218