Sec. 5020.
(1) Before such articles of incorporation shall be effective for any purpose the same shall be submitted to the attorney general for his examination, and if found by him to be in compliance with this code he shall so certify to the commissioner.
(2) Each and every insurer hereafter incorporated, where its articles of incorporation are required to be approved by the attorney general, shall pay to the attorney general for the use and benefit of the state of Michigan, the examination fee provided for in section 240 (2). It shall be unlawful for the attorney general to approve any articles of incorporation for mutual insurers until such examination fee is paid to him.
History: 1956, Act 218, Eff. Jan. 1, 1957 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)
218-1956-50 - Chapter 50 Organization of Domestic Stock and Mutual Insurers (500.5000...500.5040)
Section 500.5000 - Scope of Chapter.
Section 500.5001 - Compliance With Chapter Required.
Section 500.5002 - Organization of Insurers; Definitions.
Section 500.5006 - Stock Insurers; Formation, Number of Incorporators Required.
Section 500.5010 - Duration of Corporate Existence.
Section 500.5012 - Corporate Name; Restrictions.
Section 500.5014 - Par Value of Stock; Limitations.
Section 500.5020 - Examination of Articles by Attorney General; Fee.
Section 500.5028 - Completion of Organization; Issuance of Stock Certificates; Mutual Corporation.
Section 500.5036 - Liability of Directors for Debts During Organization.