Sec. 6844.
Any company organized or operating under this chapter may provide in its charter or by amendment to its charter for the collection of assessments and/or premiums in excess of the amount required to cover current losses and expenses, for the purpose of accumulating a surplus fund.
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)
Section 500.6800 - Scope of Chapter; Code Applicability to Domestic Farmers' Mutual Insurers.
Section 500.6802 - Formation of Mutual Plan Insurers.
Section 500.6804 - Farmers' Mutuals; Organization; Insuring Powers.
Section 500.6806 - Company Organized or Operating Under MCL 500.6804; Limit of Risk.
Section 500.6807 - Farmers' Mutuals; Coverage of Property While Off Insured Premises.
Section 500.6810-500.6820 - Repealed. 1994, Act 226, Imd. Eff. June 27, 1994.
Section 500.6823 - Property Insurance; Territorial Limitations.
Section 500.6824 - Reinsurance; Limitations.
Section 500.6826 - Records and Reports; Requirements.
Section 500.6828 - Financial Report to Members; Penalty for Violations.
Section 500.6830 - Directors and Officers; Election.
Section 500.6834 - Corporation, Board, or Association as Member.
Section 500.6838 - Premium Notes and Assessments; Liens.
Section 500.6842 - Failure to Make Assessment; Penalty.
Section 500.6844 - Surplus Fund; Accumulation.
Section 500.6846 - Board of Directors; Borrowing Power.
Section 500.6848 - Unearned Premium Reserve; Refund.
Section 500.6850 - Investments; Real Estate; Agricultural Credit Corporation Membership.
Section 500.6854 - Insurance in Excess of Fair Value Prohibited.
Section 500.6856 - Maximum Amount Recoverable on Face of Policy; Premium, Assessments.
Section 500.6858 - Adjustment or Arbitration of Losses; Subpoenas to Witnesses; Notice.
Section 500.6859 - Adjustment or Arbitration of Losses; Service of Subpoenas; Fees.
Section 500.6860 - Adjustment or Arbitration of Losses; Compelling Attendance of Witness; Costs.
Section 500.6862 - Adjustment or Arbitration of Losses; Administration of Oath to Witness; Perjury.
Section 500.6864 - Limitation of Actions.
Section 500.6866 - Uniform Farm Mutual Fire Policy.
Section 500.6868 - Uniform Farm Mutual Fire Policy; Required Form.
Section 500.6869 - Uniform Farm Mutual Fire Policy; Conflicting Bylaws, Riders.
Section 500.6870 - Uniform Farm Mutual Fire Policy; Optional Provisions.
Section 500.6872 - Uniform Farm Mutual Fire Policy; Rate, Premium, Assessment, Expiration.
Section 500.6876 - Repealed. 1963, Act 53, Eff. Sept. 6, 1963.
Section 500.6886 - Additional Provisions of Code Applicable to Domestic Mutual Insurers.