Michigan § 500.2023 - Automatic insurance on debtor contracting credit.
Full text of Michigan Michigan Compiled Laws § 500.2023 — Automatic insurance on debtor contracting credit., with citation guidance and answers to common questions.
§ 500.2023. Automatic insurance on debtor contracting credit.
It is an unfair method of competition and an unfair or deceptive act or practice in the business of insurance for an insurer, unless required by law or statutory administrative rule or unless provided for by contract, to automatically write insurance on a debtor who has contracted credit based on the principle that the insurance is applicable unless specifically rejected by the debtor, unless the premium or such other identifiable charge as may be applicable is paid in full by the creditor.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.2023
What does Michigan Compiled Laws § 500.2023 cover?
Section 500.2023 ("Automatic insurance on debtor contracting credit.") 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 § 500.2023?
A common citation format is "Michigan Compiled Laws § 500.2023" (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 § 500.2023 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.