PocketLaw | Michigan Compiled Laws | Chapter 52 Corporate Powers,

Chapter 52 Corporate Powers, Procedures of Stock and Mutual Insurers (500.5200...500.5290)

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Section
500.5200

Applicability of Chapter.

Section
500.5202

Life, Accident or Sickness Insurers; Reorganization Under Code.

Section
500.5204

Companies Deemed Bodies Corporate and Politic; Corporation Law Applicable.

Section
500.5205

Proof of Corporate Existence and Authority to Insure.

Section
500.5206

Corporate Powers; Enumeration; Exercise by Board of Directors.

Section
500.5208

Corporate Powers; Limitations; Applicability of Prohibition; Services Performed in Connection With Noninsured Benefit Plan; Provisions; Interference With Rights and Obligations Under Collective Bargaining Agreement Prohibited; Report; Liability of Employee Covered Under Noninsured Benefit Plan; “Noninsured Benefit Plan” or “Plan” Defined.

Section
500.5208a

Definitions; Prohibited Conduct; Probable Cause of Violation; Notice of Hearing; Opportunity to Confer and Discuss Complaint and Proceedings; Action for Damages; Hearing; Findings and Decision; Cease and Desist Order; Processing Claims for Benefits; Interest; Claim Form; Service Contract Provisions; Violation of Section; Penalties; Severability.

Section
500.5209

Insurer's Name; Restrictions.

Section
500.5210

Dealing in Commodities Prohibited; Exception.

Section
500.5214

Articles of Incorporation; Amendment.

Section
500.5215

Articles of Domestic Stock Insurer; Amendment as to Increase, Decrease, or Reclassification of Capital Stock.

Section
500.5216

Articles; Amendment as to Reduction of Capital; Condition; Methods of Effecting Reduction.

Section
500.5218

Increase or Decrease of Capital Stock; Authorization by Commissioner; Approval by Stockholders; Vote; Final Approval; Par Value of Stock; Issuance of New Stock.

Section
500.5220

Blank Forms for Amending Articles.

Section
500.5222

Corporate Life; Extension.

Section
500.5224

Corporate Life; Expiration, Liquidation.

Section
500.5228

Bylaws; Adoption; Filing.

Section
500.5230

Special Meetings of Stockholders or Members; Notice of Meetings.

Section
500.5232

Voting Rights; Stockholders, Members, Proxies, Fiduciaries, Pledgees.

Section
500.5234

Stockholders and Members; Voting Rights, Quorum.

Section
500.5236

Voting Rights; Inspectors of Election.

Section
500.5238

Trustees or Directors; Residency Requirement; Director as Policyholder of Insurer; Meetings; Frequency; Oath.

Section
500.5239

Repealed. 1988, Act 290, Eff. Jan. 1, 1989.

Section
500.5240

Discharging Duties of Director or Officer; Commencement of Action for Failure to Perform Duties.

Section
500.5241

Indemnification Against Expenses of Action, Suit, or Proceeding Generally.

Section
500.5242

Indemnification Against Expenses of Action, Suit, or Proceeding; Additional Provisions.

Section
500.5242a

Indemnification Against Expenses of Action, Suit, or Proceeding; Mandatory; Standard of Conduct; Determination.

Section
500.5242b

Payment of Expenses in Advance of Final Disposition of Action, Suit, or Proceeding; Undertaking.

Section
500.5242c

Indemnification or Advancement of Expenses Not Exclusive of Other Rights; Indemnification Inuring to Benefit of Heirs, Executors, and Administrators.

Section
500.5242d

“Corporation” Defined for Purposes of MCL 500.5241 to 500.5242c.

Section
500.5243

Repealed. 1988, Act 290, Eff. Jan. 1, 1989.

Section
500.5244

Liability for Payment Under Invalid Law or Ordinance.

Section
500.5245

Board of Directors; Quorum; Special Meetings; Consent to Action Taken Without Meeting.

Section
500.5246

Officers and Agents; Appointment, Removal, Bond.

Section
500.5248

Directors, Officers, and Employees of Domestic Insurer; Compensation.

Section
500.5252

Director or Officer of Insurance Corporation; Receiving Money or Valuables For, or Having Pecuniary Interest In, Purchase, Sale, or Loan Prohibited; Certain Transactions Not Prohibited; Issuing Certificate of Exemption; Hearing; Refusal to Issue Certificate; Order; Judicial Review; Violation as Felony; Penalty.

Section
500.5256

Records Relating to Insurer's Business or Affairs; Locations; Production; Safekeeping of Securities, Notes, Mortgages, or Other Evidences of Indebtedness; Exceptions; Holding Certificates in Name of Nominee; Indorsement; Control or Possession of Certificate; Reproduction of Records; Removal of Records; Hearing; Findings, Decision, and Order; Violation of Section; Liability; Failure to Comply With Order; Transfer of Domicile.

Section
500.5258

Acknowledgments.

Section
500.5260

Stock Certificates; Substitutions.

Section
500.5264

Expenditures, Vouchers, and Affidavits.

Section
500.5266

Dividends to Stockholders; General Provision.

Section
500.5267

Dividends to Stockholders; Domestic Fire Insurance Company.

Section
500.5270

Insurer's Rights as Stockholder in Other Corporations.

Section
500.5272

Domestic Fire Insurance Company; Deficiency of Assets; Notice; Cessation of Business; Liability.

Section
500.5274

Domestic Fire Insurance Company; Assessment of Stockholders.

Section
500.5276

Domestic Fire Insurance Company; Liability of Directors Under New Risks Accepted During Deficiency.

Section
500.5280

Domestic Mutual Insurer; Assets; Deficiency; Liability of Director.

Section
500.5282

Domestic Stock Insurer; Statement of Beneficial Ownership of Equity Securities.

Section
500.5283

Unfair Use of Information; Prevention; Actions for Recovery of Profits; Limitations; Exempt Transactions.

Section
500.5283a

Acquisition of Stock or Stock Option; Exemption From MCL 500.5283; Conditions; Definition.

Section
500.5283b

Selection of Director or Officer to Whom Stock Allocated or Options Granted; Exercise of Discretion; Director or Committee Member as Disinterested Person; Section Inapplicable to Certain Options or Equity Securities.

Section
500.5283c

Stock Purchase Plan; Limitations.

Section
500.5284

Securities Not Owned; Sale; Failure to Deliver to Transferee; Exception.

Section
500.5285

Nonapplication of Sections to Certain Transactions.

Section
500.5286

Foreign or Domestic Arbitrage Transactions; Exemptions.

Section
500.5287

Equity Security; Definition.

Section
500.5288

Registered Equity Securities; Exemptions; Conditions.

Section
500.5289

Insurance Commissioner; Regulatory Powers; Effect of Good Faith.

Section
500.5290

Unlawful Solicitation; Use of Name to Solicit Proxies or Consents.