Sec. 5420.
Bylaws not inconsistent with the articles of association may be adopted or amended at any meeting of the directors or members of the insurer held after the receipt from the commissioner of a certified copy of the certificate of incorporation. The bylaws or amendments shall not become effective until approved by and filed with the commissioner.
History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1961, Act 153, Eff. Sept. 8, 1961 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)
218-1956-54 - Chapter 54 Mutual Life and Disability Insurers (Domestic) (500.5400...500.5430)
Section 500.5400 - Scope of Chapter.
Section 500.5402 - Domestic Mutual Insurers; Formation; Reorganization.
Section 500.5403 - Mutual Holding Company as Domestic Mutual Insurance Company.
Section 500.5408 - Prerequisites to Granting Certificate of Authority.
Section 500.5412 - Deficiency in Insurance or Membership; Procedure.
Section 500.5416 - Mutual Life Insurer; Extension of Powers; Procedure.
Section 500.5420 - Mutual Life and Disability Insurers; Amendment, Adoption, and Approval of Bylaws.
Section 500.5424 - Directors and Officers; Number; Election.