Michigan § 500.6412 - Domestic cooperative plan insurers; life insurer; qualifications to write annuity contracts.
Full text of Michigan Michigan Compiled Laws § 500.6412 — Domestic cooperative plan insurers; life insurer; qualifications to write annuity contracts., with citation guidance and answers to common questions.
§ 500.6412. Domestic cooperative plan insurers; life insurer; qualifications to write annuity contracts.
No insurer subject to subdivision (3) of section 6406 (transaction of life insurance) shall write in Michigan any contract of annuity, or retain by virtue of supplemental agreement any proceeds of any policy or contract of insurance upon deposit with such insurer at interest or upon settlement option, until it shall have a contingency reserve deposit as defined and described in section 6434, in the amount of $100,000.00, and shall have obtained from the commissioner a certificate of authority to write such contracts of annuity or supplemental agreements.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.6412
What does Michigan Compiled Laws § 500.6412 cover?
Section 500.6412 ("Domestic cooperative plan insurers; life insurer; qualifications to write annuity contracts.") 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 § 500.6412?
A common citation format is "Michigan Compiled Laws § 500.6412" (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 § 500.6412 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.