Michigan § 500.3942a - Reporting requirements; agent activities; preparation of report.
Full text of Michigan Michigan Compiled Laws § 500.3942a — Reporting requirements; agent activities; preparation of report., with citation guidance and answers to common questions.
§ 500.3942a. Reporting requirements; agent activities; preparation of report.
Every insurer marketing long-term care insurance in Michigan shall comply with all of the following reporting requirements for the purpose of reviewing more closely agent activities regarding the sale of long-term care insurance:
Maintain records for each agent of that agent's amount of replacement sales as a percent of the agent's total annual sales and the amount of lapses of long-term care insurance policies sold by the agent as a percent of the agent's total annual sales and report annually by June 30 the top 10% of its agents that have the greatest percentages of lapses and replacements.
Report annually by June 30 the number of lapsed policies as a percent of its total annual sales and as a percent of its total number of policies in force as of the end of the preceding calendar year.
Report annually by June 30 the number of replacement policies sold as a percent of its total annual sales and as a percent of its total number of policies in force as of the preceding calendar year.
All reports prepared pursuant to subsection (1) shall be on a statewide basis.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.3942a
What does Michigan Compiled Laws § 500.3942a cover?
Section 500.3942a ("Reporting requirements; agent activities; preparation of report.") 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 § 500.3942a?
A common citation format is "Michigan Compiled Laws § 500.3942a" (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 § 500.3942a 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.