Michigan § 500.808 - Stock or mutual insurers; unearned premium reserves, pro rata basis, computation.
Full text of Michigan Michigan Compiled Laws § 500.808 — Stock or mutual insurers; unearned premium reserves, pro rata basis, computation., with citation guidance and answers to common questions.
§ 500.808. Stock or mutual insurers; unearned premium reserves, pro rata basis, computation.
Every insurer doing business in this state shall establish and maintain an unearned premium reserve on a pro rata basis on all unexpired policies and contracts except for those policies and contracts for which a different basis is specified in this act. A liability shall be set forth for the unearned pro rata portion of the aggregate premiums on all such unexpired risks as ascertained in a manner approved by the commissioner. In the case of perpetual risks or policies of fire insurance, the whole amount of the deposit or premium collected shall be included as unearned. On all unexpired trip risk insurance the entire premium received shall be included as unearned.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.808
What does Michigan Compiled Laws § 500.808 cover?
Section 500.808 ("Stock or mutual insurers; unearned premium reserves, pro rata basis, computation.") 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 § 500.808?
A common citation format is "Michigan Compiled Laws § 500.808" (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 § 500.808 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.