Michigan Compiled Laws 218-1956-72 Chapter 72 Reciprocal Insurance Exchanges (500.7200...500.7234)

• Section 500.7200 Scope Of Chapter.
  This chapter applies only to reciprocal insurers. History: 1956, Act 218, Eff. Jan. 1, 1957 Popular Name: Act 218
• Section 500.7202 Reciprocal Insurance Exchanges; Insuring Powers.
  Individuals, partnerships and public or private corporations of this state, hereby designated subscribers, are hereby authorized to exchange reciprocal or interinsurance contracts with each...
• Section 500.7206 Reciprocal Insurance Exchanges; Execution Of Contract By Attorney.
  Such contracts may be executed by an attorney, agent or other representative, herein designated as attorney. Such attorney may be an individual, individuals, firm...
• Section 500.7210 Declaration; Bond.
  (1) The subscribers, through their attorney, shall file with the commissioner a declaration, verified by the oath of such attorney, setting forth: (a) The...
• Section 500.7214 Reciprocal Insurance Exchanges; Actions And Suits.
  Subscribers at a reciprocal or interinsurance exchange shall only sue or be sued in the name or designation adopted by them. History: 1956, Act...
• Section 500.7218 Reciprocal Insurance Exchanges; Limit Of Risk; Statement Of Maximum Assumed By Subscriber.
  There shall be filed with the commissioner by such attorney a statement under the oath of such attorney, showing the maximum amount of indemnity...
• Section 500.7222 Repealed. 1994, Act 226, Imd. Eff. June 27, 1994.
  Compiler's Notes: The repealed section pertained to certificates of authority relating to reciprocal insurance exchanges.Popular Name: Act 218
• Section 500.7226 Reciprocal Insurance Exchanges; Corporation Empowered To Exchange Contracts.
  Any public or private corporation now or hereafter organized under the laws of this state shall, in addition to the rights, powers and franchises...
• Section 500.7230 Reciprocal Insurance Exchanges; Records And Securities Of Domestic Insurers; Safekeeping.
  Section 5256 shall apply to domestic reciprocal insurers. History: 1956, Act 218, Eff. Jan. 1, 1957 Popular Name: Act 218
• Section 500.7234 Reciprocal Insurance Exchanges; Filing Of Fire, Lightning, Or Windstorm Rates.
  Any reciprocal or interinsurance exchange exchanging contracts of indemnity between its subscribers and providing coverage for loss by fire, lightning or windstorm and which...

Last modified: October 10, 2016