Section 500.223 - Application for certificate of authority; fee; withdrawal of application; reapplication fee; disposition.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.223 Application for certificate of authority; fee; withdrawal of application; reapplication fee; disposition.
Sec. 223.
Any insurer making application for an original certificate of authority to transact insurance, or applying for a reissuance of a certificate of authority after the certificate has been terminated for any reason, shall pay to the commissioner the fee of $500.00 for examination, investigation, and processing of the application. If the application is withdrawn for any reason, the examination fee shall not be refunded. Any reapplication for an original certificate, after withdrawal, shall be subject to the same fee of $500.00 as in the case of an original application. The fees shall be deposited in the state treasury to the credit of the general fund.
History: Add. 1962, Act 50, Imd. Eff. Apr. 17, 1962 ;-- Am. 1981, Act 1, Imd. Eff. Mar. 30, 1981
Popular Name: Act 218