THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.6107 Automobile theft prevention fund; payment of assessment by certain insurers; administration of fund; priority of expenditures; use and distribution of fund; fund not considered state money.
(1) Prior to April 1 of each year, each insurer engaged in writing insurance coverages which provide the security required by section 3101(1) within this state, as a condition of its authority to transact insurance in this state, shall pay to the authority an assessment equal to $1.00 multiplied by the insurer's total earned car years of insurance providing the security required by section 3101(1) written in this state during the immediately preceding calendar year.
(2) Money received pursuant to subsection (1), and all other money received by the authority, shall be segregated and placed in a fund to be known as the automobile theft prevention fund. The automobile theft prevention fund shall be administered by the authority.
(3) Money in the automobile theft prevention fund shall be expended in the following order of priority:
(a) To pay the costs of administration of the authority.
(b) To achieve the purposes and objectives of this chapter, which may include, but not be limited to, the following:
(i) Provide financial support to the department of state police and local law enforcement agencies for economic automobile theft enforcement teams.
(ii) Provide financial support to state or local law enforcement agencies for programs designed to reduce the incidence of economic automobile theft.
(iii) Provide financial support to local prosecutors for programs designed to reduce the incidence of economic automobile theft.
(iv) Provide financial support to judicial agencies for programs designed to reduce the incidence of economic automobile theft.
(v) Provide financial support for neighborhood or community organizations or business organizations for programs designed to reduce the incidence of automobile theft.
(vi) Conduct educational programs designed to inform automobile owners of methods of preventing automobile theft and to provide equipment, for experimental purposes, to enable automobile owners to prevent automobile theft.
(4) Money in the automobile theft prevention fund shall only be used for automobile theft prevention efforts and shall be distributed based on need and efficacy as determined by the authority.
(5) Money in the automobile theft prevention fund shall not be considered state money.
History: Add. 1992, Act 174, Imd. Eff. July 23, 1992
Compiler's Notes: Enacting section 2 of Act 174 of 1992 provides:“Section 2. Chapter 61 of Act No. 218 of the Public Acts of 1956, as added by this amendatory act, is retroactive and applies effective April 1, 1992.”Former MCL 500.6107, which pertained to automobile prevention fund, was repealed by Act 191 of 1991, Eff. Apr. 1, 1992.
Popular Name: Act 218
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