Sec. 5804.
(1) Any number of persons, not less than 20, a majority of whom shall be bona fide residents of this state, by complying with the provisions of this chapter, may become together with others who may hereafter be associated with them or their successors, a body corporate, for the purpose of carrying on the business of mutual insurance as herein provided.
(2) Any persons proposing to form any such insurer shall subscribe and acknowledge articles of incorporation in accordance with chapter 50.
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)
218-1956-58 - 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Section 500.5814 - Repealed. 1970, Act 180, Imd.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.