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Public Act Number: 421
Public Act Year: 2018
Document Type(s): MCLs
(10 results found)
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Document Type Description
Section 500.5500 Section Definitions.
Section 500.5503 Section Domestic stock insurer; division into 2 or more insurers; plan of division; requirements; amendment procedures; abandonment of plan.
Section 500.5505 Section Filing plan of division with the department; approval by board of directors and shareholders; effectiveness of certain provisions; reasonable notice.
Section 500.5507 Section Notice and hearing of plan required; approval and filing with department; conditions of approval; confidentiality of certain financial information; payment of department expenses; order.
Section 500.5509 Section Certificate of division; contents; effective date.
Section 500.5511 Section Division effectiveness; allocation and distribution of assets and liabilities.
Section 500.5513 Section Responsibilities, liabilities, and obligations of resulting insurer.
Section 500.5515 Section Record shareholder of non-surviving insurer right to dissent and obtain payment.
Section 500.5517 Section Shareholder right to dissent and obtain payment in connection with division; application of MCL 450.1762 to shareholder actions.
Section 500.7604 Section Procedure for consolidation, merger, or reinsurance of risks; waiver for domestic stock insurers; dissolution of corporation; cessation of liability; reinsurance of individual risks; fraternal benefit societies; acquisition of general abstract business; notice of merger of farmers mutual insurer with other mutual insurer.