Michigan Compiled Laws 218-1956-51 Chapter 51 Organization Of An Acquiring Insurer For Transaction Of Certain Types Of Insurance (500.5100...500.5114)

• Section 500.5100 Definitions.
  As used in this chapter: (a) “Acquiring insurer” means a domestic stock insurer, domestic mutual insurer, or reciprocal or inter-insurance exchange organized pursuant to...
• Section 500.5102 State Accident Fund; Acquisition Of Assets; Effect Of Proposed Transfer.
  No person other than an acquiring insurer shall acquire all or substantially all of the assets of the state accident fund. A proposed transfer...
• Section 500.5104 Organizing Stock Insurer Or Mutual Insurer; Purpose; Domestic Stock Insurer Owned By Nonprofit Health Care Corporation As Acquiring Insurer; Limitation On Transaction.
  (1) Subject to the requirements of this act applicable to domestic stock insurers, domestic mutual insurers, reciprocals, or inter-insurance exchanges, and the further requirements...
• Section 500.5106 Provisions Applicable To Acquiring Insurer.
  On and after the effective date of the transfer, any acquiring insurer shall be subject to the following: (a) The acquiring insurer shall assume,...
• Section 500.5108 Acquiring Insurer As Party In Place Of State Accident Fund.
  Within 90 days after the effective date of the transfer, the acquiring insurer shall apply to the court or administrative agency in this state...
• Section 500.5110 Determining Violation Of Mcl 500.5106.
  Upon probable cause the commissioner may examine and investigate into the affairs of an acquiring insurer to determine whether the insurer has been or...
• Section 500.5112 Notice Of Violation Of Mcl 500.5106; Hearing; Findings And Conclusions; Order To Cease And Desist; Additional Orders.
  (1) Upon probable cause to believe that an acquiring insurer has been or is engaged in any practice in violation of section 5106, the...
• Section 500.5114 Insurance Agents.
  (1) All agents licensed by the state of Michigan to sell property and casualty insurance shall be authorized to sell workers' compensation and employers'...

Last modified: October 10, 2016