Michigan § 500.127 - Guaranteed asset protection waiver; certificate of authority or license not required; issuance not construed as insurance; definitions.
Full text of Michigan Michigan Compiled Laws § 500.127 — Guaranteed asset protection waiver; certificate of authority or license not required; issuance not construed as insurance; definitions., with citation guidance and answers to common questions.
§ 500.127. Guaranteed asset protection waiver; certificate of authority or license not required; issuance not construed as insurance; definitions.
(1) A guaranteed asset protection waiver that is subject to the guaranteed asset protection waiver act is not insurance or the business of insurance and is not subject to this act.
(2) A person is not required to obtain a certificate of authority or license under this act to market, sell, or offer to sell guaranteed asset protection waivers in compliance with the guaranteed asset protection waiver act to borrowers.
(3) A guaranteed asset protection waiver issued before the effective date of the amendatory act that added this section shall not be construed as insurance.
(4) As used in this section, "borrower" and "guaranteed asset protection waiver" mean those terms as defined in section 3 of the guaranteed asset protection waiver act.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.127
What does Michigan Compiled Laws § 500.127 cover?
Section 500.127 ("Guaranteed asset protection waiver; certificate of authority or license not required; issuance not construed as insurance; definitions.") 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 § 500.127?
A common citation format is "Michigan Compiled Laws § 500.127" (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 § 500.127 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.