PocketLaw | Michigan Compiled Laws | Chapter 77 (500.7701...500.7780)

Chapter 77 (500.7701...500.7780)

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Section
500.7701

Short Title of Chapter.

Section
500.7702

Purpose and Construction of Chapter.

Section
500.7704

Coverages; Liability of Association; Limitations.

Section
500.7705

Definitions.

Section
500.7706

Michigan Life and Health Insurance Guaranty Association; Creation; Membership Requirement; Performance of Functions; Exercise of Powers; Accounts; Supervision of Commissioner; Applicability of Insurance Laws; Meetings.

Section
500.7707

Board of Directors; Appointment and Election of Members; Vacancy; Notice of Organizational Meeting; Voting Rights; Approval of Election or Appointment; Fair Representation Required; Reimbursement for Expenses.

Section
500.7708

Powers and Duties of Association as to Impaired or Insolvent Insurers; Proceeding Under Subsection (3)(b) or (5)(b); Paying or Crediting Rate of Interest; Nonpayment of Premiums; Premiums Due and Liability for Unearned Premiums; Applicability of Protection; Additional Powers of Association; Transfer of Amount to Association; Failure of Association to Act; Rendering Assistance and Advice to Commissioner; Standing; Appearance; Intervention; Assignment of Rights and Causes of Action; Subrogation; Reduced Amounts; Additional Powers of Association; Reinsurance Agreement; Substitute Coverage.

Section
500.7709

Assessments.

Section
500.7710

Plan of Operation and Amendments; Submission to Commissioner; Effective Date; Failure to Submit Suitable Plan or Amendments; Rules; Compliance by Member Insurers; Contents of Plan; Providing for Delegation of Powers and Duties of Association to Other Organization.

Section
500.7711

Additional Duties of Commissioner; Suspension or Revocation of Certificate of Authority; Forfeiture; Appeal; Judicial Review; Notice by Liquidator, Rehabilitator, or Conservator.

Section
500.7712

Detection and Prevention of Insurer Insolvencies or Impairments; Powers and Duties of Commissioner and Board of Directors; Reports and Recommendations.

Section
500.7714

Liability for Unpaid Assessments of Insureds on Impaired or Insolvent Insurer Operating Under Plan With Assessment Liability; Records of Negotiations and Meetings; Report; Association as Creditor of Impaired or Insolvent Insurer; “Assets Attributable to Covered Policies” Defined; Disbursement of Assets.

Section
500.7715

Examination and Regulation of Association by Commissioner; Financial Report; Report of Activities.

Section
500.7716

Association Exempt From Fees and Taxes; Exception.

Section
500.7717

Nonliability of Member Insurer, Association, Board of Directors, or Commissioner in Performance of Powers and Duties.

Section
500.7718

Stay of Proceedings in Which Insolvent Insurer Party; Setting Aside Default Judgment; Defense.

Section
500.7719

Repealed. 1989, Act 302, Eff. Jan. 3, 1990.

Section
500.7780

Applicability of Chapter to Delinquent Insurer.