Sec. 5801.
(1) A domestic mutual insurer may be formed with nonprofit status.
(2) A nonprofit mutual disability insurer has all powers of a mutual insurer organized under this chapter unless expressly reserved. A nonprofit mutual disability insurer that has merged with a nonprofit health care corporation as provided in section 5805(1) shall not convert its status to a stock insurer under chapter 59 or reorganize under chapter 60.
History: Add. 2013, Act 5, Imd. Eff. Mar. 18, 2013 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)
218-1956-58 - Chapter 58 General Mutual Insurers (Domestic) (500.5800...500.5840)
Section 500.5800 - Applicability of Chapter.
Section 500.5804 - Domestic Mutual Insurers; Incorporation.
Section 500.5810 - Domestic Mutual Insurers; Qualification for Certificate of Authority.
Section 500.5814 - Repealed. 1970, Act 180, Imd. Eff. Aug. 3, 1970.
Section 500.5818 - Domestic Mutual Insurers; Rights of Corporation and Other Bodies to Be Members.
Section 500.5824 - Voting Rights of Members; Administrative Services Agreements.
Section 500.5826 - Offering Health Care Benefits to Residents Regardless of Health Status.
Section 500.5836 - Mutual Insurers; Borrowed Capital.
Section 500.5840 - Domestic Mutual Insurers; Deficiency in Assets; Assessment of Members.