Michigan Compiled Laws § 500.433 Trusteed Assets Below Minimum Required; Proceeding Against Alien Insurer.

500.433 Trusteed assets below minimum required; proceeding against alien insurer.

Sec. 433.

If it appears to the commissioner from any annual or quarterly statement or any other report that a U.S. branch's trusteed assets are below the minimum required to be maintained pursuant to section 431c, the commissioner may proceed against the alien insurer pursuant to the provisions of chapter 81 as an insurer whose condition no longer meets the requirements of section 403.

History: Add. 1994, Act 227, Imd. Eff. June 27, 1994
Popular Name: Act 218

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Last modified: October 10, 2016