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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)
218-1956-81 CHAPTER 81 SUPERVISION, REHABILITATION, AND LIQUIDATION (500.8101...500.8160)
Section 500.8159 Failure to transfer assets.
Universal Citation: MI Comp L § 500.8159 (2017)
500.8159 Failure to transfer assets.
Popular Name: Act 218
Sec. 8159.
If an ancillary receiver in another state or foreign country, whether called by that name or not, fails to transfer to the domiciliary liquidator in this state any assets within his or her control other than special deposits, diminished only by the expenses of the ancillary receivership, if any, the claims filed in the ancillary receivership, other than special deposit claims or secured claims, shall be placed in the class of claims under section 8142(1)(h).
History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 ;-- Am. 1996, Act 429, Imd. Eff. Nov. 26, 1996 ;-- Am. 1998, Act 279, Imd. Eff. July 27, 1998
Popular Name: Act 218
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