Michigan Compiled Laws
218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)
Section 500.7032 - Compensation of Trustee, Officer, or Employee.

Sec. 7032.
(1) A MEWA shall not pay any salary, compensation, or emolument to any officer or trustee of the MEWA, unless the payment is first authorized by a majority vote of the board of trustees of the MEWA.
(2) A trustee, officer, or employee of a MEWA shall not be compensated unreasonably. The compensation of any trustee or officer of a MEWA shall not be calculated, directly or indirectly, as a percentage of money or premiums collected, without the approval of the commissioner.
History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218

<< Previous
Next >>

Structure Michigan Compiled Laws

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 500.7004 - Employee Welfare Benefit Plan as Multiple Employer Welfare Arrangement; Certificate of Authority Required; Applicability of Chapter.

Section 500.7006 - Benefits to Which Authorized Mewa Limited.

Section 500.7010 - Application for Certificate of Authority; Form; Submission of Application and Other Documents to Commissioner; Examination of Application and Documents; Investigation; Examination Under Oath of Certain Persons.

Section 500.7011 - Conditions to Issuance of Certificate of Authority.

Section 500.7012 - Fees; Payment and Collection; Service of Process; Designation and Purpose of Fees.

Section 500.7014 - Issuance of Certificate of Authority; Refusal to Grant Certificate; Notice of Refusal; Request for and Conduct of Hearing.

Section 500.7018 - Temporary Certificate; Organization of Proposed Mewa; Opening Books to Commissioner; Condition to Issuance of Final Certificate.

Section 500.7020 - Issuance of Policies by Mewa; Premium or Premium Deposit; Contingent Premium; Restoration of Cash Reserves.

Section 500.7022 - Name of Mewa; Proof of Existence of Mewa.

Section 500.7024 - Powers of Mewa.

Section 500.7026 - Articles, Bylaws, and Trust Agreement of Mewa and Amendments Thereto; Filing; Approval; Form for Trust Agreement; Notice of Meeting; Voting Rights; Powers to Be Exercised by Board of Trustees; Restrictions on Trustees.

Section 500.7028 - Duties of Trustees; Limitation on Liability of Trustee.

Section 500.7030 - Officers and Agents; Selection and Appointment; Authority and Duties; Removal; Bond.

Section 500.7032 - Compensation of Trustee, Officer, or Employee.

Section 500.7034 - Trustee or Officer; Prohibited Conduct; Violation as Felony; Penalty.

Section 500.7040 - Financial Statements and Reports Required to Be Filed; Commingling of Cash Reserves Prohibited.

Section 500.7040.amended - Financial Statements and Reports Required to Be Filed; Commingling of Cash Reserves Prohibited.

Section 500.7044 - Notice to Individual Covered by Plan.

Section 500.7050 - Examination of Affairs of Mewa; Access to Books, Records, and Documents; Examination of Trustees, Officers, Agents, and Employees; Payment and Disposition of Assessment.

Section 500.7060 - Additional Provisions to Which Mewa Subject.

Section 500.7070 - Certificate of Authority; Grounds for Suspension, Revocation, or Limitation.

Section 500.7074 - Written Findings of Violation; Issuance and Service of Findings and Cease and Desist Order; Additional Orders.

Section 500.7076 - Violation of Cease and Desist Order; Notice; Hearing; Civil Fine; Suspension or Revocation of Certificate of Authority.

Section 500.7078 - Conduct of Proceedings for Payment of Fines or for Suspension, Revocation, or Limitation of Certificate of Authority; Appeal of Disputed Claim; Hearing.

Section 500.7080 - Multiple Employer Welfare Arrangement Security Fund; Creation; Administration; Use; Appointment, Qualifications, Terms, and Compensation of Board of Trustees; Powers of Board of Trustees; Payment of and Accounting for Expenses.

Section 500.7084 - Assessments; Purpose; Limitation; Notice; Payment; Assessments as Elements of Loss for Purpose of Establishing Rates; Liability of Employer Ceasing to Participate in Mewa; Certification of Collection and Receipt of Money From Asses...

Section 500.7086 - Security Fund as Creditor of Insolvent Mewa; Reimbursement From Insolvent Mewa.

Section 500.7090 - Effective Date of Chapter.