Sec. 6502.
Subject to the requirements of chapters 50 and 52, any number of persons, not less than 7, who are residents of this state, may form a limited liability pool for the purpose of carrying on upon the assessment or cooperative plan, liability insurance as provided in section 6506.
History: Add. 1986, Act 173, Imd. Eff. July 7, 1986 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)
218-1956-65 - Chapter 65 Limited Liability Pools (500.6500...500.6550)
Section 500.6500 - Applicability of Chapter.
Section 500.6502 - Formation of Limited Liability Pool; Purpose.
Section 500.6506 - Powers of Limited Liability Pool; Limitation.
Section 500.6510 - Commencement of Business; Pool Not Subject to MCL 500.410.
Section 500.6512 - Limited Liability Pool; Formation; Purpose.
Section 500.6514 - Limited Liability Pool; Rates.
Section 500.6516 - Limited Liability Pool; Underwriting Rules.
Section 500.6517 - Limited Liability Pool; Reinsurance.
Section 500.6522 - Insured Person as Member of Pool; Voting Rights; Quorum; Inspection of Books.
Section 500.6532 - Reserves for Unearned Premiums.
Section 500.6534 - Contingency Reserve; Deposit With State Treasurer; Use of Deposit.