Section 500.1326 - Registration statement; nonmaterial information not disclosed. - Michigan Statutes

THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956

500.1326 Registration statement; nonmaterial information not disclosed.

Sec. 1326.

No information need be disclosed on the registration statement filed pursuant to section 1325 if the information is not material for the purposes of sections 1324 to 1343 inclusive. Unless the commissioner by rule or order provides otherwise, sales, purchases, exchanges, loans or extensions of credit or investments, involving 1/2 of 1% or less of an insurer's admitted assets as of December 31 next preceding are not material for purposes of sections 1324 to 1343 inclusive.

History: Add. 1970, Act 136, Imd. Eff. July 29, 1970
Popular Name: Act 218