Michigan § 500.4020 - Participation in surplus; provision required.
Full text of Michigan Michigan Compiled Laws § 500.4020 — Participation in surplus; provision required., with citation guidance and answers to common questions.
§ 500.4020. Participation in surplus; provision required.
There shall be a provision that the policy shall participate in the surplus of the company, and that, beginning not later than the end of the fifth policy year, the company will determine and account for the portion of the divisible surplus accruing on the policy, and that the owner of the policy shall have the right to have the current dividend arising from such participation paid in cash, and that at periods of not more than 5 years such accounting and payment at the option of the policyholder shall be had. This provision shall not be required in non-participating policies.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.4020
What does Michigan Compiled Laws § 500.4020 cover?
Section 500.4020 ("Participation in surplus; provision required.") 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 § 500.4020?
A common citation format is "Michigan Compiled Laws § 500.4020" (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 § 500.4020 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.