Sec. 1407. The commissioner may require a managing general agent to do both of the following: (a) Maintain a bond in an amount acceptable to the commissioner for the protection of the insurer. (b) Maintain an errors and omissions policy.
Bond; errors and omissions policy.
Mich. Comp. Laws § 500.1407, under THE INSURANCE CODE OF 1956.
Mich. Comp. Laws § 500.1407