{"data":{"id":"us-mi/mich.-comp.-laws-500.3942a","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.3942a","heading":"Reporting requirements; agent activities; preparation of report.","body":"Sec. 3942a.\n\nEvery insurer marketing long-term care insurance in Michigan shall comply with all of the following reporting requirements for the purpose of reviewing more closely agent activities regarding the sale of long-term care insurance:\n\nMaintain records for each agent of that agent's amount of replacement sales as a percent of the agent's total annual sales and the amount of lapses of long-term care insurance policies sold by the agent as a percent of the agent's total annual sales and report annually by June 30 the top 10% of its agents that have the greatest percentages of lapses and replacements.\n\nReport annually by June 30 the number of lapsed policies as a percent of its total annual sales and as a percent of its total number of policies in force as of the end of the preceding calendar year.\n\nReport annually by June 30 the number of replacement policies sold as a percent of its total annual sales and as a percent of its total number of policies in force as of the preceding calendar year.\n\nAll reports prepared pursuant to subsection (1) shall be on a statewide basis.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-3942a","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"a63fc92700112c7cd74cffcd693df83bee8c96bf764efecea1254a1000c0ac9b","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.3942","next":"us-mi/mich.-comp.-laws-500.3943"},"notice":"GroundRules: Original legal text. Not legal advice."}