State RegulationsMI specificDifficulty 1/5
A Michigan producer changes her business address. Within how many days must she notify the director of the change?
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
M.C.L. 500.1206(5) requires a licensee to notify the Insurance Director of a change of name or address within 30 days. The notice keeps DIFS records accurate so that renewal-related communications, CE review notices, and disciplinary correspondence reach the producer, since Michigan licenses do not expire on a fixed renewal date to prompt an address update.
Why the other options are wrong
- B) 15 days is the insurer's appointment-filing deadline under M.C.L. 500.1208a(2), not the producer's address-change notice period.
- C) 60 days is the point at which unpaid claim benefits begin accruing 12% annual interest under M.C.L. 500.2006, unrelated to address changes.
- D) 90 days is the CE grace period after the review date under M.C.L. 500.1204c and the reciprocity boundary in DIFS guidance, not the address-change window.
Memory hook
Moved? Tell the director in 30 days — no renewal letter is coming to remind you.