Michigan Compiled Laws § 500.7226 Reciprocal Insurance Exchanges; Corporation Empowered To Exchange Contracts.

500.7226 Reciprocal insurance exchanges; corporation empowered to exchange contracts.

Sec. 7226.

Any public or private corporation now or hereafter organized under the laws of this state shall, in addition to the rights, powers and franchises specified in its articles of incorporation, have full power and authority to exchange insurance contracts of the kind and character herein mentioned. The right to exchange such contracts is hereby declared to be incidental to the purposes for which such corporations are organized, and as much granted as the rights and powers expressly conferred.

History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1957, Act 91, Eff. Sept. 27, 1957
Popular Name: Act 218

Section: Previous  500.7200  500.7202  500.7206  500.7210  500.7214  500.7218  500.7222  500.7226  500.7230  500.7234    Next

Last modified: October 10, 2016