State RegulationsMI specificDifficulty 1/5
A Michigan producer wants to market insurance services under a business name other than the producer's own legal name. Under the Michigan Insurance Code, what must the producer do with respect to that assumed name?
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Answer & full 3-part explanation (select an option above, or peek)
Why B is correct
M.C.L. 500.1211a governs a licensee's use of an assumed name and requires the assumed name to be filed with the director before the licensee does business under it. This lets the Michigan Department of Insurance and Financial Services (DIFS) connect public-facing trade names to the licensed individual, preserving accountability for the producer's conduct.
Why the other options are wrong
- A) One producer license is sufficient; the assumed name is filed with the director, not separately licensed.
- C) Licensees are subject to the assumed-name requirements of M.C.L. 500.1211a; the duty is not limited to insurers.
- D) Registration with a county clerk does not satisfy the Insurance Code duty to file the assumed name with the director.
Memory hook
Doing business under a different name? File it with the director first.