Michigan Compiled Laws § 500.6517 Limited Liability Pool; Reinsurance.

500.6517 Limited liability pool; reinsurance.

Sec. 6517.

A limited liability pool formed under this chapter may reinsure all or any portion of its potential liability with reinsurers licensed to transact insurance in this state or approved by the commissioner. A limited liability pool shall not directly or indirectly reinsure all or any portion of its potential liability with an insurer not authorized to transact insurance in this state without approval by the commissioner.

History: Add. 1990, Act 350, Imd. Eff. Dec. 26, 1990
Popular Name: Act 218

Section: Previous  500.6500  500.6502  500.6506  500.6510  500.6512  500.6514  500.6516  500.6517  500.6518  500.6522  500.6532  500.6534  500.6540  500.6550    Next

Last modified: October 10, 2016