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Section 500.5200 - Applicability of Chapter. - Sec. 5200. (1) This chapter applies only to domestic stock,...
Section 500.5202 - Life, Accident or Sickness Insurers; Reorganization Under Code. - Sec. 5202. Any company organized to transact the business of...
Section 500.5204 - Companies Deemed Bodies Corporate and Politic; Corporation Law Applicable. - Sec. 5204. All companies formed under the insurance laws of...
Section 500.5205 - Proof of Corporate Existence and Authority to Insure. - Sec. 5205. If it is necessary, in any legal proceedings,...
Section 500.5206 - Corporate Powers; Enumeration; Exercise by Board of Directors. - Sec. 5206. (1) Every corporation, unless otherwise provided, or inconsistent...
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; Repo... - Sec. 5208. (1) The corporate powers of an insurer incorporated...
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 C... - Sec. 5208a. (1) As used in this section: (a) "Noninsured...
Section 500.5209 - Insurer's Name; Restrictions. - Sec. 5209. Except as otherwise provided in this section, an...
Section 500.5210 - Dealing in Commodities Prohibited; Exception. - Sec. 5210. No domestic property or marine or inland navigation...
Section 500.5214 - Articles of Incorporation; Amendment. - Sec. 5214. (1) An insurer may amend its articles of...
Section 500.5215 - Articles of Domestic Stock Insurer; Amendment as to Increase, Decrease, or Reclassification of Capital Stock. - Sec. 5215. (1) A domestic stock insurer may increase or...
Section 500.5216 - Articles; Amendment as to Reduction of Capital; Condition; Methods of Effecting Reduction. - Sec. 5216. (1) Any such stock life, disability, casualty, title...
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. - Sec. 5218. (1) A domestic stock property, marine, inland navigation...
Section 500.5220 - Blank Forms for Amending Articles. - Sec. 5220. The commissioner shall prepare and keep on hand...
Section 500.5222 - Corporate Life; Extension. - Sec. 5222. An insurance corporation whose term is about to...
Section 500.5224 - Corporate Life; Expiration, Liquidation. - Sec. 5224. In case the stockholders or members thereof shall...
Section 500.5228 - Bylaws; Adoption; Filing. - Sec. 5228. (1) The stockholders or members of a corporation...
Section 500.5230 - Special Meetings of Stockholders or Members; Notice of Meetings. - Sec. 5230. (1) A special meeting of the stockholders or...
Section 500.5232 - Voting Rights; Stockholders, Members, Proxies, Fiduciaries, Pledgees. - Sec. 5232. Each stockholder or member of a domestic stock...
Section 500.5234 - Stockholders and Members; Voting Rights, Quorum. - Sec. 5234. A majority of the shares entitled to vote...
Section 500.5236 - Voting Rights; Inspectors of Election. - Sec. 5236. Whenever any stockholder or member present at a...
Section 500.5238 - Trustees or Directors; Residency Requirement; Director as Policyholder of Insurer; Meetings; Frequency; Oath. - Sec. 5238. (1) In all insurers organized under the laws...
Section 500.5239 - Repealed. 1988, Act 290, Eff. Jan. 1, 1989. - Compiler's Notes: The repealed section pertained to liability of directors...
Section 500.5240 - Discharging Duties of Director or Officer; Commencement of Action for Failure to Perform Duties. - Sec. 5240. (1) A director or an officer shall discharge...
Section 500.5241 - Indemnification Against Expenses of Action, Suit, or Proceeding Generally. - Sec. 5241. A corporation has the power to indemnify a...
Section 500.5242 - Indemnification Against Expenses of Action, Suit, or Proceeding; Additional Provisions. - Sec. 5242. A corporation has the power to indemnify a...
Section 500.5242a - Indemnification Against Expenses of Action, Suit, or Proceeding; Mandatory; Standard of Conduct; Determination. - Sec. 5242a. (1) To the extent that a director, officer,...
Section 500.5242b - Payment of Expenses in Advance of Final Disposition of Action, Suit, or Proceeding; Undertaking. - Sec. 5242b. Expenses incurred in defending a civil or criminal...
Section 500.5242c - Indemnification or Advancement of Expenses Not Exclusive of Other Rights; Indemnification Inuring to Benefit of Heirs, Executors, and Administrators. - Sec. 5242c. (1) The indemnification or advancement of expenses provided...
Section 500.5242d - “Corporation” Defined for Purposes of MCL 500.5241 to 500.5242c. - Sec. 5242d. For purposes of sections 5241 to 5242c, "corporation"...
Section 500.5243 - Repealed. 1988, Act 290, Eff. Jan. 1, 1989. - Compiler's Notes: The repealed section pertained to indemnification and reimbursement...
Section 500.5244 - Liability for Payment Under Invalid Law or Ordinance. - Sec. 5244. No personal liability shall arise against any director,...
Section 500.5245 - Board of Directors; Quorum; Special Meetings; Consent to Action Taken Without Meeting. - Sec. 5245. (1) A majority of the board of directors...
Section 500.5246 - Officers and Agents; Appointment, Removal, Bond. - Sec. 5246. The board of directors of a domestic insurer...
Section 500.5248 - Directors, Officers, and Employees of Domestic Insurer; Compensation. - Sec. 5248. (1) No domestic insurer shall pay any salary,...
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; Re... - Sec. 5252. (1) A director or officer of an insurance...
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... - Sec. 5256. (1) Each domestic insurer shall keep under its...
Section 500.5258 - Acknowledgments. - Sec. 5258. A corporation may acknowledge any instrument required by...
Section 500.5260 - Stock Certificates; Substitutions. - Sec. 5260. (1) In case a certificate for shares of...
Section 500.5264 - Expenditures, Vouchers, and Affidavits. - Sec. 5264. No domestic life insurer shall make any disbursement...
Section 500.5266 - Dividends to Stockholders; General Provision. - Sec. 5266. No dividends shall be declared due and payable...
Section 500.5267 - Dividends to Stockholders; Domestic Fire Insurance Company. - Sec. 5267. It shall not be lawful for the directors...
Section 500.5270 - Insurer's Rights as Stockholder in Other Corporations. - Sec. 5270. When an insurer shall be a stockholder in...
Section 500.5272 - Domestic Fire Insurance Company; Deficiency of Assets; Notice; Cessation of Business; Liability. - Sec. 5272. (1) Whenever it shall appear to the commissioner,...
Section 500.5274 - Domestic Fire Insurance Company; Assessment of Stockholders. - Sec. 5274. (1) Any company receiving the requisition from the...
Section 500.5276 - Domestic Fire Insurance Company; Liability of Directors Under New Risks Accepted During Deficiency. - Sec. 5276. In the event of any additional losses accruing...
Section 500.5280 - Domestic Mutual Insurer; Assets; Deficiency; Liability of Director. - Sec. 5280. (1) If, upon examination, it appears to the...
Section 500.5282 - Domestic Stock Insurer; Statement of Beneficial Ownership of Equity Securities. - Sec. 5282. Every person who is directly or indirectly the...
Section 500.5283 - Unfair Use of Information; Prevention; Actions for Recovery of Profits; Limitations; Exempt Transactions. - Sec. 5283. For the purpose of preventing the unfair use...
Section 500.5283a - Acquisition of Stock or Stock Option; Exemption From MCL 500.5283; Conditions; Definition. - Sec. 5283a. Any acquisition of shares of stock, other than...
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. - Sec. 5283b. (1) If the selection of any director or...
Section 500.5283c - Stock Purchase Plan; Limitations. - Sec. 5283c. As to each participant or as to all...
Section 500.5284 - Securities Not Owned; Sale; Failure to Deliver to Transferee; Exception. - Sec. 5284. It is unlawful for any beneficial owner, director...
Section 500.5285 - Nonapplication of Sections to Certain Transactions. - Sec. 5285. The provisions of section 5283 shall not apply...
Section 500.5286 - Foreign or Domestic Arbitrage Transactions; Exemptions. - Sec. 5286. The provisions of sections 5282, 5283 and 5284...
Section 500.5287 - Equity Security; Definition. - Sec. 5287. The term "equity security" means any stock or...
Section 500.5288 - Registered Equity Securities; Exemptions; Conditions. - Sec. 5288. The provisions of sections 5282, 5283 and 5284...
Section 500.5289 - Insurance Commissioner; Regulatory Powers; Effect of Good Faith. - Sec. 5289. The commissioner may make such rules and regulations...
Section 500.5290 - Unlawful Solicitation; Use of Name to Solicit Proxies or Consents. - Sec. 5290. It is unlawful for any person, in contravention...