MCL - 218-1956-81
Act 218 of 1956
SUPERVISION, REHABILITATION, AND LIQUIDATION
| Document | Type | Description |
|---|---|---|
| Section 500.8101 | Section | Construction and purpose of chapter. |
| Section 500.8102 | Section | Applicability of proceedings authorized by chapter. |
| Section 500.8103 | Section | Definitions. |
| Section 500.8104 | Section | Commencement of delinquency proceeding; jurisdiction; stay of proceedings. |
| Section 500.8105 | Section | Receiver; application for relief. |
| Section 500.8106 | Section | Cooperation with commissioner; obstruction or interference prohibited; existing legal rights not abridged; penalties; petition for relief. |
| Section 500.8107 | Section | Official bonds. |
| Section 500.8108a | Section | Prohibited conduct by insurer. |
| Section 500.8109 | Section | Orders; determination; supervision of insurer; restrictions; compliance; hearings; notice; time; judicial review; review of supervisor's action; violation of supervision order; penalty; enforcement of supervision order; personal liability to insurer for reduction of net worth or loss; action; costs and expenses. |
| Section 500.8110 | Section | Seizure order. |
| Section 500.8111 | Section | Confidentiality; exception; “third parties” defined. |
| Section 500.8112 | Section | Rehabilitation of insurer; petition; grounds. |
| Section 500.8113 | Section | Order to rehabilitate insurer; provisions; filing as notice; title to assets vested in rehabilitator; accounting. |
| Section 500.8114 | Section | Commissioner as rehabilitator; appointment of special deputies; employment of counsel, clerks, and assistants; compensation; terms; expenses; powers of rehabilitator; criminal or tortious conduct; breach of contractual or fiduciary obligation; plan to effect changes; avoidance of fraudulent transfers. |
| Section 500.8115 | Section | Stay of action or proceeding; purpose; duties of rehabilitator; statute of limitations; laches; standing of guaranty association. |
| Section 500.8115a | Section | Netting agreement or qualified financial contract; rights; transfer; duties of receiver; exception; rights of counterparties; definitions. |
| Section 500.8116 | Section | Order of liquidation; petition; duties of circuit court; order terminating rehabilitation; restoration to possession of property and control of business. |
| Section 500.8117 | Section | Liquidation of domestic or alien insurer; basis. |
| Section 500.8118 | Section | Order of liquidation; provisions; filing as notice; rights and liabilities; judicial declaration of insolvency; accounting. |
| Section 500.8118a | Section | Order transferring title to and possession of trusteed assets; actions of court; considerations. |
| Section 500.8119 | Section | Order of liquidation; continuation of policies in force; termination of coverages. |
| Section 500.8120 | Section | Dissolution of corporation. |
| Section 500.8121 | Section | Powers of liquidator; extended reporting period; powers and authority not exclusive; delaying sale of assets. |
| Section 500.8122 | Section | Notice of liquidation; filing claims; changes of address. |
| Section 500.8123 | Section | Notice by agent to policyholder; report of compliance; penalty; waiver. |
| Section 500.8124 | Section | Order appointing liquidator as bar to action at law or equity; full faith and credit to injunctions; intervention; expense; institution of action or proceeding on behalf of estate of insurer; period of limitation; statute of limitation or defense of laches. |
| Section 500.8124a | Section | Guaranty association or foreign guaranty association; court standing; right to intervene; jurisdiction. |
| Section 500.8125 | Section | List of insurer's assets; amendments and supplements; filing; reduction of assets to liquidity; submission of assets for disbursement. |
| Section 500.8126 | Section | Transfers and obligations as fraudulent; avoidance by receiver; retention of property, lien, or obligation as security for repayment; preservation of transfer or obligation; perfection of transfer; transfer creating equitable lien; fraudulent transaction of insurer with reinsurer. |
| Section 500.8127 | Section | Transfer of insurer's real property; validity; constructive notice of commencement of proceeding in rehabilitation or liquidation; judicial sale of real property of insurer; validity of transfer against receiver; payment of indebtedness or delivery of property to insurer; knowledge of pending rehabilitation or liquidation; burden of proof; currency or negotiable instruments not impaired. |
| Section 500.8128 | Section | Preference generally; transfers considered made or suffered; lien obtainable by legal or equitable proceedings; dissolution of voidable lien; discharge of property from lien; summary jurisdiction; hearing; notice; order; liability of surety; set off against preference; examination of transactions; payment of attorney; personal liability; recovery of certain commissions in delinquency proceedings. |
| Section 500.8129 | Section | Claim of creditor; allowance; excused late filing. |
| Section 500.8130 | Section | Setoff or counterclaim. |
| Section 500.8130a | Section | Contributions of parties; determination by court; distribution to stockholders; recovery of distributions; limitations. |
| Section 500.8131 | Section | Report of liquidator to court; levy of assessment; order to show cause; notice; hearing; determination; enforcement. |
| Section 500.8132 | Section | Amount recoverable by liquidator from reinsurers; reduction prohibited; reinsurer's obligation to insurer's estate; assumption of obligations by life and health insurance guaranty association. |
| Section 500.8133 | Section | Payment of unpaid earned premium; recovery of unearned premium; prohibited credits and setoffs; violation; penalty; notice; hearing; appeal. |
| Section 500.8133a | Section | Deductible agreement; collateral as asset maintained and administered by receiver; jurisdiction of circuit court; rights of guaranty association or foreign guaranty association; applicability to delinquency proceedings; applicability to first party claims; definitions. |
| Section 500.8134 | Section | Proposal to make early access disbursements; effect of insufficient assets; report; provisions of proposal; notice of application; action on application; return of early access funds; limitation. |
| Section 500.8135 | Section | Proof of claims; filing; circumstances permitting late filing; receipt of distributions by late filing claimants. |
| Section 500.8136 | Section | Proof of claim; statement; form; additional information or evidence; judgment or order entered by default or collusion; judgment or order as evidence of liability or quantum of damages; claims of guaranty association. |
| Section 500.8137 | Section | Contingent claims; discounting claims at legal rate of interest; claims made under employment contracts. |
| Section 500.8138 | Section | Third party claim; claim by insured; insured as unexcused late filer; recommendations of liquidator; withholding dividends; hearing; payment of insured; reversions to undistributed assets; delay in final payment; filing of several claims founded on 1 policy; prohibited claims. |
| Section 500.8139 | Section | Denial of claim; filing of objections; hearing; notice. |
| Section 500.8140 | Section | Subrogation to rights of creditor; distribution; excess received by creditor. |
| Section 500.8141 | Section | Value of security; determination; supervision and control; crediting amount determined; deficiency treated as unsecured claim; surrender of security to liquidator. |
| Section 500.8141a | Section | Payment of special deposit claims; priority; transfer of special deposits. |
| Section 500.8142 | Section | Priority of distribution of claims from insurer's estate; class of claims; subclasses prohibited; order of distribution; assets in separate account; definitions. |
| Section 500.8143 | Section | Review of claims by liquidator; investigation; negotiation; unresolved disputes; report on claims by liquidator; approval, disapproval, or modification; limitation. |
| Section 500.8144 | Section | Distributions; manner of payment; distribution of assets in kind. |
| Section 500.8145 | Section | Disposition of unclaimed or withheld funds. |
| Section 500.8146 | Section | Application for discharge. |
| Section 500.8147 | Section | Petition to reopen proceedings. |
| Section 500.8148 | Section | Retention or destruction of records. |
| Section 500.8149 | Section | Audits. |
| Section 500.8150 | Section | Conservator. |
| Section 500.8151 | Section | Petition for order directing commissioner to liquidate assets; grounds; notice; order; liquidator as ancillary receiver; commissioner as receiver; paying claims of residents. |
| Section 500.8152 | Section | Vesting of title in domiciliary liquidator or commissioner; filing claims. |
| Section 500.8153 | Section | Petition requesting appointment of ancillary receiver; order; notice; powers and duties of ancillary receiver. |
| Section 500.8154 | Section | Institution of proceedings under MCL 500.8109 to 500.8111. |
| Section 500.8155 | Section | Filing of claims; proof; conclusiveness of final allowance of claims. |
| Section 500.8156 | Section | Filing of claims; proof; recommendation; hearing; notice; appearance or representation; conclusiveness of final allowance of claim. |
| Section 500.8157 | Section | Prohibited action or proceeding. |
| Section 500.8158 | Section | Controlling order of distribution; equal priority of payment; priority against special deposits; deficiency; deferred sharing; surrender of security and filing claim as general creditor; discharge of claim. |
| Section 500.8159 | Section | Failure to transfer assets. |
| Section 500.8160 | Section | Repealed. 2001, Act 143, Imd. Eff. Oct. 26, 2001. |