PocketLaw | Michigan Compiled Laws | Chapter 59 Conversion of Domestic

Chapter 59 Conversion of Domestic Mutual Insurer to Domestic Stock Insurer (500.5901...500.5927)

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Section
500.5901

Definitions.

Section
500.5903

Conversion Plan; Vote to Amend or Withdraw; Submission of Documents to Commissioner; Time Period for Approval or Disapproval; Conditions; Review by Qualified Expert; Notice of Meeting; Vote; Adoption; Filing Certain Documents; Confidentiality.

Section
500.5904

Plan of Conversion; Prohibited Conduct.

Section
500.5905

Conversion Plan; Contents; Provisions Applicable to Subscription Rights.

Section
500.5907

Conversion Plan; Provisions Applicable to Operation as Closed Block of Business.

Section
500.5909

Acquisition of Capital Stock of Converted Stock Company or Stock of Participating Corporation; Limitations; Prohibitions.

Section
500.5911

Receipt of Subscription Rights by Directors and Officers of Mutual Company.

Section
500.5913

Allocation of Subscription Rights to Employee Benefit Plan.

Section
500.5915

Adoption of Plan Not Relying on Issuance of Subscription Rights; Alternative Plan; Retaining Qualified Expert; “Eligible Member” and “u.s. Branch” Defined.

Section
500.5917

Effectiveness of Plan; Conditions.

Section
500.5919

Notice of Adoption of Conversion Plan; Right of Member to Rescind or Cancel Policy.

Section
500.5921

Conversion Plan; Continuation of Corporate Existence; Transfer of Rights, Franchises, and Interests; Assumption of Obligations and Liabilities; Service and Election of Directors and Officers.

Section
500.5923

Payment of Fee, Commission, or Consideration to Director, Officer, Agent, or Employee; Costs and Expenses.

Section
500.5925

Validity of Actions.

Section
500.5927

Petition to Waive Notice and Approval Requirements.