Michigan Compiled Laws
218-1956-11 - Chapter 11 Reinsurance (500.1101...500.1127)
Section 500.1127 - Reinsurance Agreements; Reduction to Zero of Certain Reserve Credits or Assets.

Sec. 1127.
Insurers subject to sections 1121 through 1125 shall reduce to zero by December 31, 1994 any reserve credits or assets established with respect to reinsurance agreements entered into prior to the effective date of this chapter that, under the provisions of this chapter, would not be entitled to recognition as reserve credits or assets, so long as those reinsurance agreements were in compliance with laws or regulations in effect immediately preceding the effective date of this chapter.
History: Add. 1994, Act 226, Imd. Eff. June 27, 1994 Popular Name: Act 218

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 500 - Insurance Code of 1956

Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)

218-1956-11 - Chapter 11 Reinsurance (500.1101...500.1127)

Section 500.1101 - “Qualified United States Financial Institution” Defined.

Section 500.1103 - Credit for Reinsurance as Asset or Reduction From Liability; Accredited Reinsurer; Trust Fund; Requirements; Report to Director; Certified Reinsurer Requirements; Obligation to Arbitrate; Trust Agreement; List of Reciprocal Jurisdi...

Section 500.1105 - Reduction From Liability by Ceding Insurer to Assuming Insurer Not Meeting Requirements of MCL 500.1103; Security.

Section 500.1106 - Rules.

Section 500.1108-500.1120 - Repealed. 1972, Act 360, Imd. Eff. Jan. 9, 1973.

Section 500.1121 - Applicability of MCL 500.1123 to 500.1127 to Certain Insurers.