Section 500.3321 - Automobiles not included in MCL 500.3320; insurance required; equitable distribution of applicants to participating members. - Michigan Statutes

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

500.3321 Automobiles not included in MCL 500.3320; insurance required; equitable distribution of applicants to participating members.

Sec. 3321.

The facility shall provide, with respect to all automobiles not included in section 3320:

(a) Only the insurance required by law or required by the commissioner of insurance. The commissioner may only require insurance for which a rate has been filed by an insurance rating organization or insurer and which rate is in effect and which the commissioner finds, after a public hearing, to be reasonable, necessary, and in the public interest. The temporary provision of insurance may be required pending the public hearing if the commissioner determines it necessary to do so.

(b) The equitable distribution of applicants to participating members in accordance with the participation ratios defined in section 3303.

History: Add. 1969, Act 346, Eff. Apr. 1, 1970 ;-- Am. 1977, Act 53, Imd. Eff. July 5, 1977
Popular Name: Act 218
Popular Name: Essential Insurance