Chapter 55 Domestic Stock Insurer Division (500.5500...500.5517)

  1. Law
  2. Michigan Compiled Laws
  3. Insurance Code of 1956
  4. 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)
  5. Chapter 55 Domestic Stock Insurer Division (500.5500...500.5517)

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Section
500.5500

Definitions.

Section
500.5503

Domestic Stock Insurer; Division Into 2 or More Insurers; Plan of Division; Requirements; Amendment Procedures; Abandonment of Plan.

Section
500.5505

Filing Plan of Division With the Department; Approval by Board of Directors and Shareholders; Effectiveness of Certain Provisions; Reasonable Notice.

Section
500.5507

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

Certificate of Division; Contents; Effective Date.

Section
500.5511

Division Effectiveness; Allocation and Distribution of Assets and Liabilities.

Section
500.5513

Responsibilities, Liabilities, and Obligations of Resulting Insurer.

Section
500.5515

Record Shareholder of Non-Surviving Insurer Right to Dissent and Obtain Payment.

Section
500.5517

Shareholder Right to Dissent and Obtain Payment in Connection With Division; Application of MCL 450.1762 to Shareholder Actions.