Sec. 7.
The emergency referred to in section 1 hereof shall be deemed to continue until March 30, 1935, unless the legislature of this state, if in session, or the governor of this state, if the legislature be not in session, shall by resolution or proclamation officially declare such emergency to have sooner terminated; and as to any other such emergency hereafter occurring, the provisions of this act shall not be effective unless and until the governor of the state shall by proclamation have declared the same to exist and invoke therein the provisions of this act. In any such case, the governor by proclamation shall have the power to declare such emergency terminated at such date certain as he may determine.
History: 1933, Act 66, Imd. Eff. Apr. 28, 1933 ;-- CL 1948, 550.7 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
Structure Michigan Compiled Laws
Chapter 550 - General Insurance Laws
Act 66 of 1933 - Emergency Insurance Legislation (550.1 - 550.8)
Section 550.1 - Declaration of Emergency.
Section 550.2 - Insurance Company Disbursement Limitations.
Section 550.3 - Insurance Commissioner Regulatory Powers.
Section 550.4 - Foreign Insurance Companies; Other States' Regulations, Application.
Section 550.5 - Purposes of Act.
Section 550.6 - Suits Against Insurance Companies; Statute of Limitations, Extension.
Section 550.7 - Duration of Emergency; Proclamations.
Section 550.8 - Violation of Act; Misdemeanor; License Revocation, Grounds.