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2017 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 THE INSURANCE CODE OF 1956 (500.100 - 500.8302)
218-1956-4 CHAPTER 4 AUTHORIZATION OF INSURERS AND GENERAL REQUIREMENTS (500.402...500.480)
Section 500.431c Trusteed assets; value.
Universal Citation: MI Comp L § 500.431c (2017)
500.431c Trusteed assets; value.
Sec. 431c.
The assets in the trust accounts shall be known as trusteed assets. The total value of trusteed assets shall at all times be at least equal to the sum of the U.S. branch's reserves and other liabilities, the minimum capital and surplus required to be maintained by section 410, and any additional amounts considered necessary by the commissioner. The trusteed assets shall be valued and limited in accordance with section 901.
History: Add. 1994, Act 227, Imd. Eff. June 27, 1994
Popular Name: Act 218
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