Michigan § 500.505 - Notice and opt out requirements.
Full text of Michigan Michigan Compiled Laws § 500.505 — Notice and opt out requirements., with citation guidance and answers to common questions.
§ 500.505. Notice and opt out requirements.
A licensee is not required to provide the notice and opt out requirements for nonpublic personal financial information under this chapter if the licensee is an employee, agent, or other representative of a principal and all of the following are met:
The principal is another licensee.
The principal otherwise complies with and provides the notices required by this chapter.
The licensee does not disclose any nonpublic personal information to any person other than the principal or its affiliates as provided in this chapter.
A surplus lines broker or surplus lines insurer is considered to be in compliance with the notice and opt out requirements for nonpublic personal financial information under this chapter if all of the following are met:
The broker or insurer does not disclose nonpublic personal information of a consumer or a customer to nonaffiliated third parties for any purpose, including joint servicing or marketing under section 535, except as permitted by section 537 or 539.
The broker or insurer delivers a notice to the consumer at the time a customer relationship is established on which the following is printed in 16-point type:
"Neither the U.S. brokers that handled this insurance nor the insurers that have underwritten this insurance will disclose nonpublic personal information concerning the buyer to nonaffiliates of the brokers or insurers except as permitted by law.".
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.505
What does Michigan Compiled Laws § 500.505 cover?
Section 500.505 ("Notice and opt out requirements.") 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 § 500.505?
A common citation format is "Michigan Compiled Laws § 500.505" (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 § 500.505 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.