2020 Michigan Compiled Laws
Chapter 550 - General Insurance Laws
Act 125 of 1963 Nonprofit Dental Care Corporations (550.351 - 550.373)
Section 550.351 Nonprofit Dental Care Corporation; Formation; Purpose; Types of Dental Care Plans; Services in Other States; Corporation Subject to Nonprofit Corporation Act.

Sec. 1.

(1) Three or more residents of this state may form a nonprofit corporation under the provisions of this act for the purpose of establishing, maintaining, and operating nonprofit dental care plans by which professional licensed dental services are provided at the expense of the corporation to persons who become subscribers to the plans.

(2) The dental care plans may be a fee for service plan, administrative service contract, cost-plus arrangement, or a capitation plan.

(3) The corporation may establish, maintain, and operate dental care plans to furnish, deliver, indemnify, or finance professional dental services in other states, directly or through affiliate corporations.

(4) Except as otherwise provided in this act, a corporation formed under this act is subject to the nonprofit corporation act, Act No. 162 of the Public Acts of 1982, being sections 450.2101 to 450.3192 of the Michigan Compiled Laws.

History: 1963, Act 125, Eff. Sept. 6, 1963 ;-- Am. 1990, Act 129, Imd. Eff. June 26, 1990
Compiler's Notes: For transfer of the Department of Insurance and Office of the Commissioner on Insurance from the Department of Licensing and Regulation to the Department of Commerce, see E.R.O. No. 1991-9, compiled at MCL 338.3501 of the Michigan Compiled Laws.For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.