Michigan Compiled Laws
218-1956-81A - Chapter 81a Fraternal Benefit Societies (500.8161...500.8199a)
Section 500.8175 - Not for Profit Institution; Purposes; Reporting Real or Personal Property.

Sec. 8175.
A society may create, maintain, and operate, or may establish organizations to operate, a not for profit institution to further the purposes permitted by section 8167(1)(b). A not for profit institution may furnish services free or at a reasonable charge. Any real or personal property owned, held, or leased by the society for the purposes permitted by section 8167(1)(b) shall be reported in each annual statement.
History: Add. 1990, Act 1, Eff. Apr. 1, 1990 Popular Name: Act 218

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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)

218-1956-81A - Chapter 81a Fraternal Benefit Societies (500.8161...500.8199a)

Section 500.8161 - Definitions.

Section 500.8162 - Society Governed by Chapter; Exemption.

Section 500.8163 - Society as Charitable and Benevolent Institution; Tax Exemption.

Section 500.8164 - Definition of Fraternal Benefit Society.

Section 500.8165 - Society Operating on Lodge System; Requirements; Lodges for Children.

Section 500.8166 - Representative Form of Government; Requirements; Postponement of Society Meetings.

Section 500.8167 - Society Operating for Benefit of Members and Their Beneficiaries; Requirements; Subsidiary Corporations or Affiliated Organizations; Laws and Rules; Additional Powers.

Section 500.8168 - Specification of Eligibility Standards, Admission Process, and Rights and Privileges; Social Members; Rights Personal and Not Assignable.

Section 500.8169 - Principal Office of Domestic Society; Meetings of Supreme Governing Body; Validity of Business Transacted; Minutes; Official Publication; Report, Notice, or Statement; Mailing or Publication of Synopsis of Annual Statement; Grievan...

Section 500.8170 - Personal Liability; Indemnification and Reimbursement; Purchase of Insurance.

Section 500.8171 - Waiver of Society's Laws.

Section 500.8172 - Formation of Domestic Fraternal Society; Requirements; Filing Documents; Bond; Certifying, Retaining, and Filing Articles of Incorporation; Preliminary Certificate of Authority; Solicitation of Members; Collection of Premium; Recei...

Section 500.8173 - Reincorporation Not Required.

Section 500.8174 - Amendment to Laws.

Section 500.8175 - Not for Profit Institution; Purposes; Reporting Real or Personal Property.

Section 500.8176 - Reinsurance Agreement.

Section 500.8177 - Consolidation or Merger; Compliance; Filings; Approval of Contract; Issuance of Certificate; Effective Date; Vesting of Rights, Franchises, and Interest; Affidavit as Evidence of Mailing Notice or Documents; Payment of Expenses and...

Section 500.8178 - Domestic Fraternal Benefit Society as Mutual Life Insurance Company.

Section 500.8179 - Contractual Benefits; Specifying Persons Covered in Rules.

Section 500.8180 - Changing Beneficiary; Limiting Scope of Beneficiary Designations; Vested Interest of Revocable Beneficiary; Payment of Funeral Benefits; Payment of Benefit to Personal Representative or Owner of Certificate.

Section 500.8181 - Attachment, Garnishment, or Other Process.

Section 500.8182 - Benefit Contracts.

Section 500.8183 - Value of Paid-Up Nonforfeiture Benefit; Amount of Cash Surrender Value, Loan, or Other Option Granted.

Section 500.8184 - Investments Generally.

Section 500.8185 - Assets; Special Fund; Accounts; Issuance of Contracts on Variable Basis; Special Procedures; Special Voting and Other Rights.

Section 500.8186 - Standards of Valuation for Certificates; Excess Reserves.

Section 500.8187 - Reports; Annual Statement; Valuation of Certificates; Penalty.

Section 500.8188 - Duration of License or Authorization to Transact Business; Copy of License as Evidence.

Section 500.8189 - Examination of Society.

Section 500.8190 - Foreign or Alien Society; License Required; Compliance; Conditions.

Section 500.8191 - Domestic Society; Deficiencies; Notice; Request for Correction; Noncompliance; Action to Enjoin or Action in Quo Warranto; Hearing; Order; Findings; Liquidation; Recognition of Action; Receiver; Voluntary Determination to Discontin...

Section 500.8192 - Foreign or Alien Society; Deficiencies; Notice; Request for Correction; Noncompliance; Suspension, Revocation, or Refusal of License; Contracts.

Section 500.8193 - Application or Petition for Injunction; Recognition.

Section 500.8194 - Agent of Society; License Required; Exceptions.

Section 500.8195 - Society Subject to Chapter 20.

Section 500.8196 - Service of Process.

Section 500.8197 - False or Fraudulent Statement or Representation as Misdemeanor or Perjury; Violation of MCL 500.8177 as Felony; Soliciting or Procuring Membership in Unlicensed Society as Misdemeanor; Violation of or Noncompliance With Chapter; Pe...

Section 500.8198 - Decisions and Findings of Commissioner; Judicial Review.

Section 500.8199 - Exemptions.

Section 500.8199a - Additional Chapters and Provisions Applicable to Fraternal Benefit Society.