Michigan Compiled Laws 350-1980-2 Part 2 (550.1201...550.1220)

• Section 550.1201 Health Care Corporation; Incorporation; Number Of Persons; Payment Of Cash Or Other Material Benefit To Subscriber; Applicable Laws; Charitable And Benevolent Institution; Exemption From Taxation; Certificate Of Authority; Health Care Benefits And Certificates.
  (1) A health care corporation shall not be incorporated in this state except under this act. (2) Not less than 7 persons, all of...
• Section 550.1201a Formation Of Health Care Corporation After January 1, 2014; Prohibition.
  Notwithstanding section 201, a health care corporation shall not be formed in this state on or after January 1, 2014. History: Add. 2013, Act...
• Section 550.1202 Articles Of Incorporation; Contents; Number; Forms; Examination And Certification By Attorney General; Fees.
  (1) Persons associating to form a health care corporation under this act shall subscribe to articles of incorporation that shall contain all of the...
• Section 550.1203 Amendment Or Restatement Of Articles; Review; Approval.
  By action of its board of directors, a health care corporation may integrate into a single instrument the provisions of its articles of incorporation...
• Section 550.1204 Filing Of Statements And Documents; Examination; Investigation; Additional Information; Conditions; Duties Of Commissioner.
  (1) Before entering into contracts or securing applications of subscribers, the persons incorporating a health care corporation shall file all of the following in...
• Section 550.1204a Unimpaired Surplus.
  (1) A health care corporation shall possess and maintain unimpaired surplus in an amount determined adequate by the commissioner to comply with section 403...
• Section 550.1205 Repealed. 2003, Act 59, Eff. July 23, 2003.
  Compiler's Notes: The repealed section pertained to accounting and filing practices of health care corporation.Popular Name: Blue Cross-Blue ShieldPopular Name: Act 350
• Section 550.1205a Actuarial Practices And Accounting Principles; Financial Report.
  A health care corporation shall report financial information in conformity with sound actuarial practices and statutory accounting principles in the same manner as designated...
• Section 550.1206 Funds, Property, And Business Of Health Care Corporation; Investments; Insurance; Prepaid Health Care Benefits.
  (1) The funds and property of a health care corporation shall be acquired, held, and disposed of only for the lawful purposes of the...
• Section 550.1207 Powers Of Health Care Corporation; Interests Of Senior Citizens; Validity Of Corporate Acts.
  (1) A health care corporation, subject to any limitation provided in this act, in any other statute of this state, or in its articles...
• Section 550.1208 Action By Member; Complaint.
  (1) An action may be brought in the right of a health care corporation to procure a judgment in its favor, by a member...
• Section 550.1209 Action By Member; Discontinuance, Compromise, Or Settlement; Notice; Expense.
  An action authorized by section 208 shall not be discontinued, compromised, or settled without approval by the court having jurisdiction of the action. If...
• Section 550.1210 Action By Member; Reasonable Expenses; Attorney's Fees.
  (1) If an action brought in the right of the corporation is successful, in whole or in part, or if anything is received by...
• Section 550.1211 Administrative Services Only And Cost-plus Arrangements; Service Contracts; Fees; Administrative Costs; Marketing Policy; Notice; Coverage, Rights, And Obligations Under Collective Bargaining Agreement; Liability Of Individual; Report; “noninsured Benefit Plan” Defined.
  (1) Pursuant to section 207(1)(g), a health care corporation may enter into service contracts containing an administrative services only or cost-plus arrangement. Except as...
• Section 550.1211a Definitions; Prohibited Acts By Corporation; Processing Claims For Benefits On Timely Basis; Claim Form; Notice To Covered Individuals; Notice To Corporation Of Complaint And Proceedings Contemplated; Hearing; Findings; Order; Violation Of Order; Penalty; Action And Award Of Actual Monetary Damages; Review; Stay Of Enforcement.
  (1) As used in this section: (a) “Noninsured benefit plan” means a health benefit plan without coverage by a health care corporation, health maintenance...
• Section 550.1212 Action Without Notice Or Lapse Of Time Periods; Waiver; Attorney-in-fact.
  When, under this act or the articles of incorporation or bylaws of a health care corporation or by the terms of an agreement or...
• Section 550.1213 Indemnification.
  (1) A health care corporation may indemnify any person who was or is a party to, or is threatened to be made a party...
• Section 550.1214 Rate Of Interest.
  A health care corporation may by agreement in writing, and not otherwise, agree to pay a rate of interest in excess of the legal...
• Section 550.1215 Health Care Corporation As Shareholder In Other Nonprofit Corporation; Rights, Powers, Privileges, And Liabilities.
  When a health care corporation, consistent with the purposes of the corporation prescribed in this act, is a shareholder in any other nonprofit corporation,...
• Section 550.1216, 550.1217 Repealed. 2002, Act 559, Imd. Eff. Sept. 27, 2002.
  Compiler's Notes: The repealed sections pertained to merger, consolidation, or dissolution of corporation.Popular Name: Blue Cross-Blue ShieldPopular Name: Act 350
• Section 550.1218 Health Care Corporation; Prohibited Actions.
  A health care corporation shall not do any of the following: (a) Take any action to change its nonprofit status. (b) Except as otherwise...
• Section 550.1219 Provisions Superseded.
  A nonprofit health care corporation is subject to chapter 37 of the insurance code of 1956, 1956 PA 218, MCL 500.3701 to 500.3723. To...
• Section 550.1220 Merger Of Health Care Corporation With Nonprofit Mutual Disability Insurer.
  (1) Notwithstanding any provision of this act to the contrary, a health care corporation may establish, own, operate, and merge with a nonprofit mutual...

Last modified: October 10, 2016