Section 500.2002 - Purpose of act.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.2002 Purpose of act.
Sec. 2002.
The purpose of this uniform trade practices act is to regulate trade practices in the business of insurance in accordance with the intent of congress as expressed in the act of congress of March 9, 1945 (Public Law 15, 79th Congress as amended), by defining, or by providing for the determination of (under standards or procedures herein prescribed), all such practices in this state which constitute unfair methods of competition or unfair or deceptive acts or practices, and by prohibiting the trade practices so defined or determined.
History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218