Section 500.402c - Motor vehicle rental company; insurance transaction; definitions.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.402c Motor vehicle rental company; insurance transaction; definitions.
Sec. 402c.
(1) A certificate of authority to transact insurance in this state is not required for the sale of any travel or auto-related insurance coverages by a motor vehicle rental company or its officers or employees in connection with and incidental to the rental of a motor vehicle.
(2) As used in this section:
(a) “Motor vehicle” means a motorized vehicle designed for transporting passengers or goods.
(b) “Motor vehicle rental company” means any person in the business of providing motor vehicles to the public under a rental agreement for a period not to exceed 90 days.
History: Add. 2002, Act 737, Imd. Eff. Dec. 30, 2002
Compiler's Notes: Former MCL 500.402c, which pertained to determination that insurer is safe, reliable, and entitled to public confidence, was repealed by Act 158 of 1996, Imd. Eff. Apr. 3, 1996.
Popular Name: Act 218