Michigan Compiled Laws
218-1956-77 - Chapter 77 (500.7701...500.7780)
Section 500.7715 - Examination and Regulation of Association by Commissioner; Financial Report; Report of Activities.

Sec. 7715.
The association shall be subject to examination and regulation by the commissioner. The board of directors shall submit to the commissioner, not later than May 1 of each year, a financial report for the preceding calendar year in a form approved by the commissioner and a report of the association's activities during the preceding calendar year.
History: Add. 1982, Act 194, Imd. Eff. June 28, 1982 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)

218-1956-77 - Chapter 77 (500.7701...500.7780)

Section 500.7701 - Short Title of Chapter.

Section 500.7702 - Purpose and Construction of Chapter.

Section 500.7704 - Coverages; Liability of Association; Limitations.

Section 500.7705 - Definitions.

Section 500.7706 - Michigan Life and Health Insurance Guaranty Association; Creation; Membership Requirement; Performance of Functions; Exercise of Powers; Accounts; Supervision of Commissioner; Applicability of Insurance Laws; Meetings.

Section 500.7707 - Board of Directors; Appointment and Election of Members; Vacancy; Notice of Organizational Meeting; Voting Rights; Approval of Election or Appointment; Fair Representation Required; Reimbursement for Expenses.

Section 500.7708 - Powers and Duties of Association as to Impaired or Insolvent Insurers; Proceeding Under Subsection (3)(b) or (5)(b); Paying or Crediting Rate of Interest; Nonpayment of Premiums; Premiums Due and Liability for Unearned Premiums; Ap...

Section 500.7709 - Assessments.

Section 500.7710 - Plan of Operation and Amendments; Submission to Commissioner; Effective Date; Failure to Submit Suitable Plan or Amendments; Rules; Compliance by Member Insurers; Contents of Plan; Providing for Delegation of Powers and Duties of A...

Section 500.7711 - Additional Duties of Commissioner; Suspension or Revocation of Certificate of Authority; Forfeiture; Appeal; Judicial Review; Notice by Liquidator, Rehabilitator, or Conservator.

Section 500.7712 - Detection and Prevention of Insurer Insolvencies or Impairments; Powers and Duties of Commissioner and Board of Directors; Reports and Recommendations.

Section 500.7714 - Liability for Unpaid Assessments of Insureds on Impaired or Insolvent Insurer Operating Under Plan With Assessment Liability; Records of Negotiations and Meetings; Report; Association as Creditor of Impaired or Insolvent Insurer; “...

Section 500.7715 - Examination and Regulation of Association by Commissioner; Financial Report; Report of Activities.

Section 500.7716 - Association Exempt From Fees and Taxes; Exception.

Section 500.7717 - Nonliability of Member Insurer, Association, Board of Directors, or Commissioner in Performance of Powers and Duties.

Section 500.7718 - Stay of Proceedings in Which Insolvent Insurer Party; Setting Aside Default Judgment; Defense.

Section 500.7719 - Repealed. 1989, Act 302, Eff. Jan. 3, 1990.

Section 500.7780 - Applicability of Chapter to Delinquent Insurer.