Michigan § 500.1208 - Insurance effected by agent on certain risks; limitation.
Full text of Michigan Michigan Compiled Laws § 500.1208 — Insurance effected by agent on certain risks; limitation., with citation guidance and answers to common questions.
§ 500.1208. Insurance effected by agent on certain risks; limitation.
An agent, during any 12-month period, may not effect insurance upon his own property, life or other risk and the property, life or other risk of his employees, employer or business associates, in excess of 15% of the total premium which he effected during that period.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.1208
What does Michigan Compiled Laws § 500.1208 cover?
Section 500.1208 ("Insurance effected by agent on certain risks; limitation.") 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 § 500.1208?
A common citation format is "Michigan Compiled Laws § 500.1208" (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 § 500.1208 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.