Michigan § 500.1017 - Independent public accountant; communicating unremediated material weaknesses; description.
Full text of Michigan Michigan Compiled Laws § 500.1017 — Independent public accountant; communicating unremediated material weaknesses; description., with citation guidance and answers to common questions.
§ 500.1017. Independent public accountant; communicating unremediated material weaknesses; description.
(1) In addition to the annual audited financial report, each insurer shall furnish the commissioner with a written communication as to any unremediated material weaknesses in the insurer's internal controls over financial reporting noted during the audit. This communication shall be prepared by the accountant within 60 days after the filing of the annual audited financial report and shall contain a description of any unremediated material weaknesses, as of the December 31 immediately preceding, in the insurer's internal control over financial reporting noted by the accountant during the course of his or her audit of the financial statements. The communication shall also state if no unremediated material weaknesses were noted.
(2) The insurer shall provide to the commissioner a description of remedial actions taken or proposed to correct unremediated material weaknesses, if the actions taken or proposed are not described in the accountant's communication.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.1017
What does Michigan Compiled Laws § 500.1017 cover?
Section 500.1017 ("Independent public accountant; communicating unremediated material weaknesses; description.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 500.1017?
A common citation format is "Michigan Compiled Laws § 500.1017" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 500.1017 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.