Section 500.6516 - Limited liability pool; underwriting rules.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.6516 Limited liability pool; underwriting rules.
Sec. 6516.
(1) A limited liability pool formed under this chapter shall put in writing all underwriting rules used by the insurer and shall file its underwriting rules with the commissioner prior to their use in this state.
(2) As used in this section, “underwriting rules” means the written statements, guidelines, or criteria of a limited liability pool, that describe the standards under which the limited liability pool issues, refuses to issue, renews, refuses to renew, or limits coverage for liability insurance under this chapter.
History: Add. 1990, Act 350, Imd. Eff. Dec. 26, 1990
Popular Name: Act 218