Michigan § 500.1715 - Failure to file timely ORSA summary report; penalty.
Full text of Michigan Michigan Compiled Laws § 500.1715 — Failure to file timely ORSA summary report; penalty., with citation guidance and answers to common questions.
§ 500.1715. Failure to file timely ORSA summary report; penalty.
An insurer that does not, without just cause, timely file an ORSA summary report as required in this chapter shall pay a civil fine of $1,000.00 for each day's delay, to be recovered by the director and paid into the general fund. The maximum civil fine under this section is $75,000.00. The director may reduce the penalty if the insurer demonstrates to the director that the penalty would cause a financial hardship to the insurer.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.1715
What does Michigan Compiled Laws § 500.1715 cover?
Section 500.1715 ("Failure to file timely ORSA summary report; penalty.") 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 § 500.1715?
A common citation format is "Michigan Compiled Laws § 500.1715" (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 § 500.1715 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.