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Form a Business

Third party ownership of policy.

MCL 500.3462
in effect
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500.3462. Third party ownership of policy. Sec. 3462. The word "insured", as used in this chapter, shall not be construed as preventing a person other than the insured with a proper insurable interest from making application for and owning a policy covering the insured or from being entitled under such a policy to any indemnities, benefits and rights provided therein. 1956, Act 218, Eff. Jan. 1, 1957 [PopularName] Act 218
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-500-3462Fetched: 10/20/2026

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