Mich. Comp. Laws § 500.2023

Current through Public Act 171 of the 2024 Legislative Session
Section 500.2023 - Automatic insurance on debtor contracting credit

It is an unfair method of competition and an unfair or deceptive act or practice in the business of insurance for an insurer, unless required by law or statutory administrative rule or unless provided for by contract, to automatically write insurance on a debtor who has contracted credit based on the principle that the insurance is applicable unless specifically rejected by the debtor, unless the premium or such other identifiable charge as may be applicable is paid in full by the creditor.

MCL 500.2023

Add. 1968, Act 240, Imd. Eff. 6/26/1968 ;--Am. 1976, Act 273, Eff. 4/1/1977 .