500.1405 Licensing. Sec. 1405. (1) A person shall not act in the capacity of a managing general agent with respect to risks located in this state for an insurer authorized in this state unless that person is licensed as an agent in this state. (2) A person shall not act in the capacity of a managing general agent representing an insurer domiciled in this state with respect to risks located outside this state unless that person is licensed as an agent in this state pursuant to the provisions of this chapter. History: Add. 1990, Act 350, Eff. June 1, 1991 Popular Name: Act 218
Michigan Legal Code