Sec. 7026.
(1) The articles, bylaws, and trust agreement of the MEWA and all amendments thereto shall be filed with and approved by the commissioner before becoming operative. The trust agreement shall be filed on a form prescribed by the commissioner.
(2) Each member employer of a MEWA shall be given notice of every meeting of the members and shall be entitled to an equal vote, either in person or by proxy in writing by such member.
(3) The powers of a MEWA, except as otherwise provided, shall be exercised by the board of trustees chosen to carry out the purposes of the trust agreement. Not less than 50% of the trustees shall be persons who are covered under the MEWA and no trustee shall be an owner, officer, or employee of a third party administrator who provides services to the MEWA.
History: Add. 1986, Act 121, Eff. July 1, 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)
218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)
Section 500.7001 - Definitions.
Section 500.7006 - Benefits to Which Authorized Mewa Limited.
Section 500.7011 - Conditions to Issuance of Certificate of Authority.
Section 500.7022 - Name of Mewa; Proof of Existence of Mewa.
Section 500.7024 - Powers of Mewa.
Section 500.7028 - Duties of Trustees; Limitation on Liability of Trustee.
Section 500.7032 - Compensation of Trustee, Officer, or Employee.
Section 500.7034 - Trustee or Officer; Prohibited Conduct; Violation as Felony; Penalty.
Section 500.7044 - Notice to Individual Covered by Plan.
Section 500.7060 - Additional Provisions to Which Mewa Subject.
Section 500.7070 - Certificate of Authority; Grounds for Suspension, Revocation, or Limitation.
Section 500.7086 - Security Fund as Creditor of Insolvent Mewa; Reimbursement From Insolvent Mewa.