MCL - 218-1956-77
Act 218 of 1956
| Document | Type | Description |
|---|---|---|
| Section 500.7701 | Section | Short title of chapter. |
| Section 500.7702 | Section | Purpose and construction of chapter. |
| Section 500.7704 | Section | Coverages; liability of association; limitations. |
| Section 500.7705 | Section | Definitions. |
| Section 500.7706 | Section | Michigan life and health insurance guaranty association; creation; membership requirement; performance of functions; exercise of powers; accounts; supervision of commissioner; applicability of insurance laws; meetings. |
| Section 500.7707 | Section | Board of directors; appointment and election of members; vacancy; notice of organizational meeting; voting rights; approval of election or appointment; fair representation required; reimbursement for expenses. |
| Section 500.7708 | Section | Powers and duties of association as to impaired or insolvent insurers; proceeding under subsection (3)(b) or (5)(b); paying or crediting rate of interest; nonpayment of premiums; premiums due and liability for unearned premiums; applicability of protection; additional powers of association; transfer of amount to association; failure of association to act; rendering assistance and advice to commissioner; standing; appearance; intervention; assignment of rights and causes of action; subrogation; reduced amounts; additional powers of association; reinsurance agreement; substitute coverage. |
| Section 500.7709 | Section | Assessments. |
| Section 500.7710 | Section | Plan of operation and amendments; submission to commissioner; effective date; failure to submit suitable plan or amendments; rules; compliance by member insurers; contents of plan; providing for delegation of powers and duties of association to other organization. |
| Section 500.7711 | Section | Additional duties of commissioner; suspension or revocation of certificate of authority; forfeiture; appeal; judicial review; notice by liquidator, rehabilitator, or conservator. |
| Section 500.7712 | Section | Detection and prevention of insurer insolvencies or impairments; powers and duties of commissioner and board of directors; reports and recommendations. |
| Section 500.7714 | Section | Liability for unpaid assessments of insureds on impaired or insolvent insurer operating under plan with assessment liability; records of negotiations and meetings; report; association as creditor of impaired or insolvent insurer; “assets attributable to covered policies” defined; disbursement of assets. |
| Section 500.7715 | Section | Examination and regulation of association by commissioner; financial report; report of activities. |
| Section 500.7716 | Section | Association exempt from fees and taxes; exception. |
| Section 500.7717 | Section | Nonliability of member insurer, association, board of directors, or commissioner in performance of powers and duties. |
| Section 500.7718 | Section | Stay of proceedings in which insolvent insurer party; setting aside default judgment; defense. |
| Section 500.7719 | Section | Repealed. 1989, Act 302, Eff. Jan. 3, 1990. |
| Section 500.7780 | Section | Applicability of chapter to delinquent insurer. |