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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)
218-1956-65 CHAPTER 65 LIMITED LIABILITY POOLS (500.6500...500.6550)
Section 500.6517 Limited liability pool; reinsurance.
Universal Citation: MI Comp L § 500.6517 (2017)
500.6517 Limited liability pool; reinsurance.
Sec. 6517.
A limited liability pool formed under this chapter may reinsure all or any portion of its potential liability with reinsurers licensed to transact insurance in this state or approved by the commissioner. A limited liability pool shall not directly or indirectly reinsure all or any portion of its potential liability with an insurer not authorized to transact insurance in this state without approval by the commissioner.
History: Add. 1990, Act 350, Imd. Eff. Dec. 26, 1990
Popular Name: Act 218
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