2006 Michigan Compiled Laws - CHAPTER 77 (500.7701...500.7780)

THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956 Chapter 77

Document	Description
Section 500.7701	Short title of chapter.
Section 500.7702	Purpose and construction of chapter.
Section 500.7704	Coverages; liability of association.
Section 500.7705	Definitions.
Section 500.7706	Michigan life and health insurance guaranty association; creation; membership requirement; performance of functions; exercise of powers; accounts; supervision of commissioner; applicability of insurance laws; meetings.
Section 500.7707	Board of directors; appointment and election of members; vacancy; notice of organizational meeting; voting rights; approval of election or appointment; fair representation required; reimbursement for expenses.
Section 500.7708	Powers and duties of association as to impaired or insolvent insurers; proceeding under subsection (3)(b) or (5)(b) with respect to only life and health insurance policies; payment or crediting of rate of interest; nonpayment of premiums; premiums due and liability for unearned premiums; applicability of protection; additional powers of association; failure of association to act; rendering assistance and advice to commissioner; standing; appearance; intervention; assignment of rights and causes of action; subrogation; additional powers of association.
Section 500.7709	Assessments.
Section 500.7710	Plan of operation and amendments; submission to commissioner; effective date; failure to submit suitable plan or amendments; rules; compliance by member insurers; contents of plan; providing for delegation of powers and duties of association to other organization.
Section 500.7711	Additional duties of commissioner; suspension or revocation of certificate of authority; forfeiture; appeal; judicial review; notice by liquidator, rehabilitator, or conservator.
Section 500.7712	Detection and prevention of insurer insolvencies or impairments; powers and duties of commissioner and board of directors; reports and recommendations.
Section 500.7714	Liability for unpaid assessments of insureds on impaired or insolvent insurer operating under plan with assessment liability; records of negotiations and meetings; report; association as creditor of impaired or insolvent insurer; "assets attributable to covered policies" defined.
Section 500.7715	Examination and regulation of association by commissioner; financial report; report of activities.
Section 500.7716	Association exempt from fees and taxes; exception.
Section 500.7717	Nonliability of member insurer, association, board of directors, or commissioner in performance of powers and duties.
Section 500.7718	Stay of proceedings in which insolvent insurer party; setting aside default judgment; defense.
Section 500.7719	Repealed. 1989, Act 302, Eff. Jan. 3, 1990.
Section 500.7780	Applicability of chapter to delinquent insurer.

Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.