Michigan § 500.4103 - Delivery or issuance by insurer of modified guaranteed annuity; conditions.
Full text of Michigan Michigan Compiled Laws § 500.4103 — Delivery or issuance by insurer of modified guaranteed annuity; conditions., with citation guidance and answers to common questions.
§ 500.4103. Delivery or issuance by insurer of modified guaranteed annuity; conditions.
An insurer shall not deliver or issue for delivery a modified guaranteed annuity within this state unless it is licensed or organized to do a life insurance or annuity business in this state, and the commissioner is satisfied that its condition or method of operation in connection with the issuance of such contracts will not render its operation hazardous to the public or its policyholders in this state. In making this determination, the commissioner shall consider among other things the insurer's history and financial condition, the character, responsibility, and fitness of the insurer's officers and directors, and the law and regulation under which the insurer is authorized in the state of domicile to issue such annuities.
If the insurer is a subsidiary of an admitted life insurance company or affiliated with such insurer by common management or ownership, the commissioner may consider subsection (1) satisfied if either the subsidiary or affiliated insurer or the admitted life company satisfies subsection (1) and the insurer is licensed and has a satisfactory record of doing business in this state for a period of at least 3 years.
Before an insurer delivers or issues for delivery a modified guaranteed annuity within this state, it shall submit to the commissioner the following:
A general description of the kinds of modified guaranteed annuities it intends to issue.
If requested by the commissioner, a copy of the statutes and regulations of its state of domicile under which it is authorized to issue modified guaranteed annuities.
If requested by the commissioner, biographical data of the insurer's officers and directors.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.4103
What does Michigan Compiled Laws § 500.4103 cover?
Section 500.4103 ("Delivery or issuance by insurer of modified guaranteed annuity; conditions.") 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 § 500.4103?
A common citation format is "Michigan Compiled Laws § 500.4103" (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 § 500.4103 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.