Michigan Compiled Laws § 500.1375 Violation Of Chapter; Receivership.

500.1375 Violation of chapter; receivership.

Sec. 1375.

If it appears to the commissioner that a person has committed a violation of this chapter that so impairs the financial condition of a domestic insurer as to threaten insolvency or make the further transaction of business by it hazardous to its policyholders, creditors, shareholders, or the public, the commissioner may proceed as provided in chapter 81 to take possession of the property of the domestic insurer and conduct the insurer's business.

History: Add. 1970, Act 136, Imd. Eff. July 29, 1970 ;-- Am. 1992, Act 182, Imd. Eff. Oct. 1, 1992
Popular Name: Act 218

Section: Previous  500.1343  500.1344  500.1351  500.1355  500.1357  500.1361  500.1365  500.1367  500.1368  500.1371  500.1375  500.1377  500.1378  500.1379    Next

Last modified: October 10, 2016