Section 500.1407 - Bond; errors and omissions policy.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.1407 Bond; errors and omissions policy.
Sec. 1407.
The commissioner may require a managing general agent to do both of the following:
(a) Maintain a bond in an amount acceptable to the commissioner for the protection of the insurer.
(b) Maintain an errors and omissions policy.
History: Add. 1990, Act 350, Eff. June 1, 1991
Popular Name: Act 218