Michigan Compiled Laws § 500.8107 Official Bonds.

500.8107 Official bonds.

Sec. 8107.

In a proceeding under this chapter, the commissioner and his or her deputies shall be responsible on their official bonds for the faithful performance of their duties. If the court considers it desirable for the protection of the assets, the court may at any time require an additional bond from the commissioner or his or her deputies, and the bond shall be paid for out of the assets of the insurer as a cost of administration.

History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990
Popular Name: Act 218

Section: Previous  500.8101  500.8102  500.8103  500.8104  500.8105  500.8106  500.8107  500.8108a  500.8109  500.8110  500.8111  500.8112  500.8113  500.8114  500.8115  Next

Last modified: October 10, 2016