Sec. 1332.
Any person may file with the commissioner a petition for disclaimer of affiliation with an authorized insurer or an insurer or any member of an insurance holding company system may file such a petition for disclaimer. The petition for disclaimer shall fully disclose all material relationships and bases for affiliation between the person and the insurer as well as the basis for disclaiming the affiliation and shall be subject to approval by the commissioner. The burden of proof for establishing that an affiliation does not exist shall rest with the petitioner. After a petition for disclaimer is filed with and approved by the commissioner, the insurer is relieved of any duty to register or report under this chapter that may arise out of the insurer's relationship with the person unless the commissioner subsequently disallows the disclaimer. The commissioner may disallow a disclaimer that has been previously approved only after furnishing all parties in interest with notice and opportunity to be heard and after making specific findings of fact to support the disallowance.
History: Add. 1970, Act 136, Imd. Eff. July 29, 1970 ;-- Am. 1994, Act 227, Imd. Eff. June 27, 1994 Popular Name: Act 218
Structure 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 500.1312 - Statement Filed With Director; Contents; Duties.
Section 500.1314 - Alternative Filing Materials.
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 500.1328 - 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 500.1341a.added - Domestic Insurer Investments; Limitations.
Section 500.1342 - Application of MCL 500.436a.
Section 500.1351 - Examination of Insurer or Affiliates; Information; Experts; Expenses.
Section 500.1357 - Participation of Director in Supervisory College.
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 500.1375 - Violation of Chapter; Receivership.
Section 500.1377 - Liquidation or Rehabilitation; Recovery of Certain Distributions or Payments.
Section 500.1379 - Violation of Chapter; Suspension, Revocation or Refusal to Renew License.