Michigan § 500.407 - Authorization to transact kinds of insurance; exceptions.
Full text of Michigan Michigan Compiled Laws § 500.407 — Authorization to transact kinds of insurance; exceptions., with citation guidance and answers to common questions.
§ 500.407. Authorization to transact kinds of insurance; exceptions.
An insurer that otherwise qualifies to transact insurance under this act may be authorized to transact any 1 kind or combination of kinds of insurance as defined in chapter 6 except:
A life insurer is not authorized to transact any other kind of insurance except disability insurance as defined in section 606 unless it was engaged in transacting that other kind of insurance in this state prior to January 1, 1909.
A reciprocal insurer is not authorized to transact life or health insurance.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.407
What does Michigan Compiled Laws § 500.407 cover?
Section 500.407 ("Authorization to transact kinds of insurance; exceptions.") 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 § 500.407?
A common citation format is "Michigan Compiled Laws § 500.407" (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 § 500.407 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.