Section 500.1025 - Canadian and British insurers; annual audited financial report; contents of independent public accountant's letter.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.1025 Canadian and British insurers; annual audited financial report; contents of independent public accountant's letter.
Sec. 1025.
(1) For Canadian and British insurers, the annual audited financial report is the annual statement of total business, on the form filed by those companies with their domiciliary supervision authority, and duly audited by an independent chartered accountant.
(2) For insurers listed in subsection (1), the independent public accountant's letter required in section 1009 shall state that the independent public accountant is aware of the requirements relating to the annual audited statement filed with the commissioner pursuant to section 1005 and shall affirm that the opinion expressed is in conformity with those requirements.
History: Add. 1992, Act 182, Imd. Eff. Oct. 1, 1992
Popular Name: Act 218