There is a newer version
of
this Section
2017 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 THE INSURANCE CODE OF 1956 (500.100 - 500.8302)
218-1956-7 CHAPTER 7 RESERVE STANDARDS FOR DISABILITY INSURANCE (500.701...500.737)
Section 500.707 Health insurance benefits other than disability income; claim reserves maximum interest rate; basis of claim reserve.
Universal Citation: MI Comp L § 500.707 (2017)
500.707 Health insurance benefits other than disability income; claim reserves maximum interest rate; basis of claim reserve.
Sec. 707.
(1) The maximum interest rate for claim reserves related to health insurance benefits other than disability income is that rate specified in section 733.
(2) The claim reserve shall be based upon the insurer's experience if such experience is considered credible or upon other assumptions designed to place a sound value on the liabilities.
History: Add. 1994, Act 148, Imd. Eff. June 7, 1994
Popular Name: Act 218
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.
