Mich. Admin. Code R. 501.157 - Limited licenses
Rule 7.
(1) The
commissioner of insurance may issue a limited license to an agent who will be
limiting his or her business to certain specified lines of insurance.
(2) An agent may receive a limited license
upon qualifying to write the lines of insurance desired under procedures
established by the commissioner of insurance.
(3) The insurer's request for licensing and
the application of the prospective agent shall conspicuously indicate that the
request is for a limited license. An explanation of the reasons for the
limitation shall accompany the documents.
(4) An agent issued a limited license shall
not submit, and an insurer shall not accept from that agent, any business
written for lines of insurance not specifically authorized under the agent's
license.
Notes
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