Section R. 500.71 - DefinitionsRule 1.
(1) As used in these rules:(a) "Act" means the insurance code of 1956, 1956 PA 218, MCL 500.100 to 500.8302.(b) "Chapter 13" means chapter 13 of the act, MCL 500.1301 to 500.1379.(c) "Executive officer" means chief executive officer, chief operating officer, chief financial officer, treasurer, secretary, controller, and another individual performing functions corresponding to those performed by the individuals described in this subdivision without regard to title.(d) "Ultimate controlling person" means the person that is not controlled by another person.(2) A term defined in the act has the same meaning when used in these rules, unless a more specific definition of a term is provided under chapter 13, in which case the term defined in chapter 13 has the same meaning when used in these rules. A term not defined in the act has meaning according to industry usage when used in these rules.Mich. Admin. Code R. 500.71
2024 MR 6, Eff. March 20, 2024