State RegulationsMI specificDifficulty 1/5
A producer licensed in Michigan becomes subject to an administrative action taken against the producer by the insurance regulator of another jurisdiction. Within how many days of the final disposition must the producer report the action?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
M.C.L. 500.1247(1) requires a Michigan producer to report any administrative action taken against the producer in another jurisdiction (or by another Michigan agency) within 30 days of the final disposition. The reporting duty keeps DIFS informed of disciplinary history that could affect the producer's Michigan license.
Why the other options are wrong
- A) 15 days is the insurer's appointment-filing window under M.C.L. 500.1208a, not the producer's reporting deadline.
- C) 60 days is the claim-interest trigger under M.C.L. 500.2006, not a reporting deadline for administrative actions.
- D) 90 days marks the reciprocity boundary in DIFS licensing guidance for surrendered home-state licenses, not the reporting period for disciplinary actions.
Memory hook
Out-of-state trouble? Tell DIFS in 30 days after it is final.