Michigan Compiled Laws
218-1956-13 - Chapter 13 Holding Companies (500.1301...500.1379)
Section 500.1316 - Information to Shareholders; Expense; Bond; Examination or Investigation.

Sec. 1316.
All statements, amendments, or other material filed pursuant to section 1311 or 1312 and all notices of hearings held pursuant to section 1315, shall be mailed by the insurer to its shareholders within 5 business days after the insurer has received them. The expenses of mailing shall be borne by the person making the filing. As security for the payment of the expenses, the person shall file with the commissioner an acceptable bond or other deposit in an amount to be determined by the commissioner. At the acquiring party's expense, the commissioner may conduct such examination or investigation as the commissioner is empowered to do under section 224.
History: Add. 1970, Act 136, Imd. Eff. July 29, 1970 ;-- Am. 1992, Act 182, Imd. Eff. Oct. 1, 1992 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)

218-1956-13 - Chapter 13 Holding Companies (500.1301...500.1379)

Section 500.1301 - Insurance Holding Companies; Definitions.

Section 500.1301.amended - Insurance Holding Companies; Definitions.

Section 500.1305 - Domestic Insurers; Organization or Acquisition of Subsidiaries; Book of Business; Value; Admitted Asset; Limitation; Amortization; Annual Test; Definition; Authority of Commissioner.

Section 500.1311 - Merging With or Acquiring Control of Domestic Insurer; Statement; Filing Confidential Notice of Proposed Divestiture; Notice by Person Proposing to Merge or Acquire Control of Domestic Insurer; “Domestic Insurer” Explained.

Section 500.1312 - Statement Filed With Director; Contents; Duties.

Section 500.1313 - Partnership, Syndicate or Other Group; Statement Filed With Commissioner, Amendment.

Section 500.1314 - Alternative Filing Materials.

Section 500.1315 - Merger or Acquisition of Control; Approval by Director; Public Hearing; Determination; Contested Case Hearing.

Section 500.1316 - Information to Shareholders; Expense; Bond; Examination or Investigation.

Section 500.1317 - Exemptions.

Section 500.1318 - Violations.

Section 500.1319 - Jurisdiction of Actions Arising Out of Violations; Consent to Process.

Section 500.1324 - Insurers Subject to Registration; Time.

Section 500.1325 - Registration Statement; Form; Contents; Other Reports or Information Required.

Section 500.1325a - Annual Enterprise Risk Report.

Section 500.1325a.amended - Annual Enterprise Risk Report.

Section 500.1325b.added - Annual Group Capital Calculation; Filing; Exemption.

Section 500.1325c.added - Liquidity Stress Test Framework; Results; Filing; Compliance With Naic.

Section 500.1326 - Registration Statement; Nonmaterial Information Not Disclosed.

Section 500.1326.amended - Registration Statement; Nonmaterial Information Not Disclosed.

Section 500.1327 - Registration Statement; Reporting Material Changes or Additions and Distributions to Shareholders.

Section 500.1328 - Registration; Termination.

Section 500.1329 - Consolidated Registration Statements.

Section 500.1330 - Registration on Behalf of Affiliated Insurer.

Section 500.1331 - Exemptions.

Section 500.1332 - Petition for Disclaimer of Affiliation; Filing; Contents; Effect; Disallowance.

Section 500.1333 - Registration Statement; Failure to File.

Section 500.1334 - Person Subject to Registration; Providing Information to Insurer.

Section 500.1341 - Transactions Within Holding Company System; Certain Insurers as Party; Standards; Prior Approval; Transactions Entered Into by Domestic Insurers; Notification; Separate Transactions; Review by Director; Total Investment Exceeding 1...

Section 500.1341a.added - Domestic Insurer Investments; Limitations.

Section 500.1342 - Application of MCL 500.436a.

Section 500.1343 - Ordinary Shareholder Dividends Paid by Domestic Insurers; Review by Director; Determination of Reasonableness; Factors; Limiting or Disallowing Payment of Shareholder Dividends; Declaration or Payment From Earned Surplus; Declarati...

Section 500.1344 - Officers and Directors; Obligation or Liability; Common Management or Cooperative or Joint Use of Personnel, Property, or Services.

Section 500.1351 - Examination of Insurer or Affiliates; Information; Experts; Expenses.

Section 500.1355 - Examination of Insurer or Affiliates; Confidentiality of Information; Written Consent; Disclosure; Notice; Publication in Interest of Public; Sharing Documents, Materials, or Other Information With Regulator, Naic, or Law Enforceme...

Section 500.1355.amended - Examination of Insurer or Affiliates; Privilege and Confidentiality of Information; Use of Materials; Written Consent; Disclosure; Notice; Publication in Interest of Public; Sharing Documents; Written Agreement; Responsibil...

Section 500.1357 - Participation of Director in Supervisory College.

Section 500.1359 - Internationally Active Insurance Group; Group-Wide Supervisor; Determination Factors; Duties.

Section 500.1361 - Issuance of Rules and Orders.

Section 500.1365 - Injunctions; Violation of Chapter, Rule or Order.

Section 500.1367 - Voting Certain Securities Prohibited; Injunction.

Section 500.1368 - Voting Securities in Violation of Chapter; Sequestration of Securities.

Section 500.1371 - Violation of Chapter; Action by Director; Criminal Proceeding; Penalty; Disapproval of Dividends or Distributions.

Section 500.1375 - Violation of Chapter; Receivership.

Section 500.1377 - Liquidation or Rehabilitation; Recovery of Certain Distributions or Payments.

Section 500.1378 - Failure by Commissioner to Act or Make Determination; Petition for Writ of Superintending Control.

Section 500.1379 - Violation of Chapter; Suspension, Revocation or Refusal to Renew License.