Michigan Compiled Laws § 550.366a Prudent Purchaser Agreements; Rates; Provisions Inapplicable To Certain Contracts And Renewal Thereof.

550.366a Prudent purchaser agreements; rates; provisions inapplicable to certain contracts and renewal thereof.

Sec. 16a.

(1) A dental care corporation may enter into prudent purchaser agreements with dentists pursuant to the prudent purchaser act.

(2) The rates charged by a corporation for coverage under contracts issued under this section shall not be unreasonably lower than what is necessary to meet the expenses of the corporation for providing this coverage and shall not have an anticompetitive effect or result in predatory pricing in relation to prudent purchaser agreement coverages offered by other organizations.

(3) Nothing in the 1984 amendatory act that added this section shall apply to any contract which was in existence before December 20, 1984, or the renewal of such contract.

History: Add. 1984, Act 234, Eff. Dec. 20, 1984 ;-- Am. 1988, Act 281, Imd. Eff. July 27, 1988

Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.

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Last modified: October 10, 2016