Sec. 7050.
The commissioner, or any person appointed by the commissioner, shall have the power to examine the affairs of any MEWA, and for such purposes shall have free access to all the books, records, and documents that relate to the business of the plan, and may examine under oath its trustees, officers, agents, and employees in relation to the affairs, transactions, and condition of the MEWA. Each authorized MEWA shall pay an assessment annually to the commissioner in an amount equal to 1/4 of 1% of the annual self-funded contributions made to the MEWA for that year. The assessments paid under this section shall be appropriated to the insurance bureau to cover the additional costs incurred by the insurance bureau in the examination and regulation of MEWAs under this chapter.
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.