Michigan Compiled Laws
218-1956-9 - Chapter 9 Investments (500.900...500.960)
Section 500.902 - Investments by Domestic Insurer; Amount in Qualified Asset Required; Definition.

Sec. 902.
(1) Except as otherwise provided in sections 942(7), (10), and (11), 943(2), and 946(4), this chapter does not prohibit the investment of a domestic insurer's capital and surplus in any asset otherwise permitted to be held by any other person or corporation under the laws of this state, provided the domestic insurer maintains qualified assets as described in this chapter in the amounts specified in section 901.
(2) As used in this section, "qualified assets" means cash and those assets described in sections 910 to 947.
History: Add. 2002, Act 462, Imd. Eff. June 21, 2002 Compiler's Notes: Former MCL 500.902, which pertained to authorized investments by domestic insurers, was repealed by Act 318 of 1969, Eff. Mar. 20, 1970.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)

218-1956-9 - Chapter 9 Investments (500.900...500.960)

Section 500.900 - Repealed. 1969, Act 318, Eff. Mar. 20, 1970.

Section 500.901 - Asset Requirements for Insurers.

Section 500.902 - Investments by Domestic Insurer; Amount in Qualified Asset Required; Definition.

Section 500.904 - Repealed. 1957, Act 91, Eff. Sept. 27, 1957.

Section 500.906, 500.908 - Repealed. 1969, Act 318, Eff. Mar. 20, 1970.

Section 500.910 - Certificates of Deposit or Depository Receipts; Construction as Deposits of Cash.

Section 500.912 - Qualified Assets; Description; Limitation on Governmental Securities.

Section 500.914 - Qualified Assets as Guaranteed Interest Bonds.

Section 500.916 - Qualified Assets as Federal Financing Agency Stock.

Section 500.917 - Mortgage-Backed Securities; Certain Securities Described in Secondary Mortgage Market Enhancement Act of 1984 Subject to Limitations; Definition.

Section 500.917a - Definitions; Asset-Backed Securities.

Section 500.918 - Qualified Assets by Solvent Institution; Authorization; Mortgage Loans; Equipment Trust Certificates; Fixed Interest Bearing Obligations.

Section 500.920 - Net Earnings Available for Fixed Charges; Definition.

Section 500.922 - Qualified Assets in Stocks, Bonds, or Evidences of Corporate Indebtedness; Authorization.

Section 500.924 - Qualified Assets in Preferred Stock; Conditions.

Section 500.925 - Application of Amounts Paid Life Insurer to Purchase of Retirement Benefits; Income, Gains, or Losses on Accounts; Limitations on Charges and Deductions; Investment or Amounts Allocated; Standards; “Contract on a Variable Basis” Def...

Section 500.926-500.931 - Repealed. 1969, Act 318, Eff. Mar. 20, 1970.

Section 500.932 - Qualified Assets in Shares of Savings and Loan Associations.

Section 500.933 - Repealed. 1969, Act 318, Eff. Mar. 20, 1970.

Section 500.934 - Qualified Assets in Farm Loan Bonds, Intermediate Credit Bank Loans, Central Bank for Cooperatives, Home Loan Banks, Federal Savings and Loan Insurance Corporation Obligations; Authorization.

Section 500.938 - Qualified Assets.

Section 500.942 - Qualified Assets in Real Estate Loans; Purchase of Loan or Certificate of Participation.

Section 500.943 - Qualified Assets; Derivative Instruments and Transactions.

Section 500.944 - Accounts Receivable; Includable as Qualified Assets.

Section 500.945 - Repealed. 1994, Act 226, Imd. Eff. June 27, 1994.

Section 500.946 - Home Office, Lands, and Buildings; Includable as Qualified Assets.

Section 500.947 - Income Producing Real Estate and Housing Projects; Includable as Qualified Assets.

Section 500.948 - Repealed. 1969, Act 318, Eff. Mar. 20, 1970.

Section 500.950, 500.951 - Repealed. 1969, Act 318, Eff. Mar. 20, 1970.

Section 500.960 - Repealed. 1969, Act 318, Eff. Mar. 20, 1970.