Michigan Compiled Laws § 500.6844 Surplus Fund; Accumulation.

500.6844 Surplus fund; accumulation.

Sec. 6844.

Any company organized or operating under this chapter may provide in its charter or by amendment to its charter for the collection of assessments and/or premiums in excess of the amount required to cover current losses and expenses, for the purpose of accumulating a surplus fund.

History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218

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Last modified: October 10, 2016