MCL - 218-1956-10

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Chapter 500
Act 218 of 1956
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THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
Chapter 10
ANNUAL AUDITED FINANCIAL REPORTS
Document Type Description
Section 500.1001 Section Definitions.
Section 500.1003 Section Nonapplicability of chapter.
Section 500.1005 Section Insurer; annual audit; filing date; extensions; designation of audit committee.
Section 500.1007 Section Annual audited financial report; contents; form; conduct of examination by independent public accountant.
Section 500.1009 Section Insurer required to file annual audited report; registration of insurer's independent public accountant; letter required; dismissal or resignation of independent public accountant; notice; report of disagreement; responsive letter.
Section 500.1010 Section Recognition of person or firm as independent public accountant; mediation or arbitration of disputes; limitation on period of service; relief from rotation requirement; restrictions; hearing; ruling by commissioner; exemption from subsection (7); nonaudit services; preapproval; waiver; independent public accountant not recognized as qualified; condition; relief from subsection (14).
Section 500.1011 Section Audited consolidated or combined financial statements; application for filing; work sheet.
Section 500.1015 Section Independent public accountant; reporting determination that insurer materially misstated financial condition or does not meet requirements of MCL 500.408 or MCL 500.410; liability; action to be taken after date of audited financial report.
Section 500.1017 Section Independent public accountant; communicating unremediated material weaknesses; description.
Section 500.1019 Section Independent public accountant; filing letter with annual audited financial report; contents.
Section 500.1021 Section Work papers; availability; retention; review as investigation; use.
Section 500.1023 Section Compliance with chapter; exemption; filing reports on other than calendar year basis; compliance by domestic insurers; schedule; compliance by foreign insurers.
Section 500.1025 Section Canadian and British insurers; annual audited financial report; contents of independent public accountant's letter.
Section 500.1027 Section Applicability of section to domestic insurer not SOX compliant entity; duties of audit committee; member of audit committee as independent; election of controlling person; report by accountant; reports provided on aggregate basis; structure of audit committee; waiver from section based on hardship; effective date of section; "direct written and assumed premiums" defined.
Section 500.1028 Section Internal audit function; exemption; confidentiality; report to audit committee.
Section 500.1029 Section Director or officer of insurer; prohibited conduct.
Section 500.1031 Section Report of insurer's or group of insurers' internal control over financial reporting; requirements.
Section 500.1033 Section Exemption from any or all provisions of chapter.