There is a newer version
of
this Division
2020 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 The Insurance Code of 1956 (500.100 - 500.8302)
218-1956-59 Chapter 59 Conversion of Domestic Mutual Insurer to Domestic Stock Insurer (500.5901...500.5927)
- Section 500.5901 Definitions.
- Section 500.5903 Conversion Plan; Vote to Amend or Withdraw; Submission of Documents to Commissioner; Time Period for Approval or Disapproval; Conditions; Review by Qualified Expert; Notice of Meeting; Vote; Adoption; Filing Certain Documents; Confidentiality.
- Section 500.5904 Plan of Conversion; Prohibited Conduct.
- Section 500.5905 Conversion Plan; Contents; Provisions Applicable to Subscription Rights.
- Section 500.5907 Conversion Plan; Provisions Applicable to Operation as Closed Block of Business.
- Section 500.5909 Acquisition of Capital Stock of Converted Stock Company or Stock of Participating Corporation; Limitations; Prohibitions.
- Section 500.5911 Receipt of Subscription Rights by Directors and Officers of Mutual Company.
- Section 500.5913 Allocation of Subscription Rights to Employee Benefit Plan.
- Section 500.5915 Adoption of Plan Not Relying on Issuance of Subscription Rights; Alternative Plan; Retaining Qualified Expert; “Eligible Member” and “u.s. Branch” Defined.
- Section 500.5917 Effectiveness of Plan; Conditions.
- Section 500.5919 Notice of Adoption of Conversion Plan; Right of Member to Rescind or Cancel Policy.
- Section 500.5921 Conversion Plan; Continuation of Corporate Existence; Transfer of Rights, Franchises, and Interests; Assumption of Obligations and Liabilities; Service and Election of Directors and Officers.
- Section 500.5923 Payment of Fee, Commission, or Consideration to Director, Officer, Agent, or Employee; Costs and Expenses.
- Section 500.5925 Validity of Actions.
- Section 500.5927 Petition to Waive Notice and Approval Requirements.
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.