Section 500.2091 - Unlawful advertising; notice to supervisory official.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.2091 Unlawful advertising; notice to supervisory official.
Sec. 2091.
No unauthorized foreign or alien insurer shall make, issue, circulate or cause to be made, issued or circulated to residents of this state any estimate, illustration, circular, pamphlet or letter, or cause to be made in any newspaper, magazine or other publication, or over any radio or television station, any announcement or statement to such residents misrepresenting its financial condition or the terms of any contracts issued or to be issued or the benefits or advantages promised thereby, or the dividends or share of the surplus to be received thereon in violation of sections 2001 to 2050 of this act, and whenever the commissioner has reason to believe that any such insurer is engaging in unlawful advertising, he shall give notice of such fact by certified mail to the insurer and to the insurance supervisory official of the domiciliary state of the insurer. For the purpose of this section, the domiciliary state of an alien insurer is the state of entry or the state of the principal office in the United States.
History: Add. 1961, Act 20, Eff. Sept. 8, 1961
Popular Name: Act 218