2017 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 THE INSURANCE CODE OF 1956 (500.100 - 500.8302)
218-1956-77 CHAPTER 77 (500.7701...500.7780)
- Section 500.7701 Short title of chapter.
- Section 500.7702 Purpose and construction of chapter.
- Section 500.7704 Coverages; liability of association; limitations.
- 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); paying or crediting rate of interest; nonpayment of premiums; premiums due and liability for unearned premiums; applicability of protection; additional powers of association; transfer of amount to association; failure of association to act; rendering assistance and advice to commissioner; standing; appearance; intervention; assignment of rights and causes of action; subrogation; reduced amounts; additional powers of association; reinsurance agreement; substitute coverage.
- 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; disbursement of assets.
- 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.
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