What is AMERICAN AGENCY SYSTEM? Definition of AMERICAN AGENCY SYSTEM in Black's Law Dictionary
Its purport is that upon termination of an insurance agency, if the agent's financial obligations to the insurer are paid in full, all rights in the expiration data of existing insurance procured by the agent belong to him. Woodruff v. Auto Owners Ins. Co., 300 Mich. 54, 1 N.W.2d 450, 453.