SENATE BILL No. 892

December 4, 2001, Introduced by Senator MC COTTER and referred to the Committee on Government Operations.

A bill to amend 1956 PA 218, entitled

"The insurance code of 1956,"

by amending sections 204 and 208 (MCL 500.204 and 500.208).

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

1 Sec. 204. The commissioner shall receive such AN annual

2 salary as the legislature shall appropriate, payable as other

3 state officers are paid under the accounting laws of the state.

4 Within 15 days from the time of notice of his OR HER appointment,

5 the commissioner shall take and subscribe the constitutional oath

6 of office and file the same OATH in the office of the secretary

7 of state, and shall also within the same period give to the

8 people of the state of Michigan a bond in the penal sum of

9 $50,000.00, with sureties to be approved by the auditor general

10 STATE TREASURER, conditioned for the faithful discharge of the

11 duties of his OR HER office.

02251'01 JLB

2

1 Sec. 208. The board of state auditors DEPARTMENT OF

2 MANAGEMENT AND BUDGET shall assign to the insurance department

3 DIVISION OF THE OFFICE OF FINANCIAL AND INSURANCE SERVICES at

4 Lansing suitable rooms for conducting the business of the

5 department DIVISION, the necessary expense of which shall be

6 audited by the said board on the certificate of the commissioner

7 and paid on the warrant of the auditor general DEPARTMENT OF

8 MANAGEMENT AND BUDGET.

02251'01 Final page. JLB