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2018 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 THE INSURANCE CODE OF 1956 (500.100 - 500.8302)
218-1956-52 CHAPTER 52 CORPORATE POWERS, PROCEDURES OF STOCK AND MUTUAL INSURERS (500.5200...500.5290)
Section 500.5270 Insurer's rights as stockholder in other corporations.
Universal Citation: MI Comp L § 500.5270 (2018)
500.5270 Insurer's rights as stockholder in other corporations.
Sec. 5270.
When an insurer shall be a stockholder in any other corporation, as provided for in sections 922 (investment in stocks and bonds), 926 (investment in insurance stocks), and 938 (collateral loans), its president and other officers or any of its directors shall be eligible to the office of director of such insurer the same as if they were individually stockholders therein and an insurer holding such stock shall possess and exercise in respect thereof, all the rights, powers, privileges and liabilities of individual owners or holders of such stock.
History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1957, Act 91, Eff. Sept. 27, 1957
Popular Name: Act 218
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