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Michigan Legislature
Michigan Compiled Laws Complete Through PA 20 of 2019
House: Adjourned until Wednesday, June 19, 2019 1:30:00 PM
Senate: Adjourned until Wednesday, June 19, 2019 10:00:00 AM

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Act 218 of 1956
Chapter 8

Section 500.808SectionStock or mutual insurers; unearned premium reserves, pro rata basis, computation.
Section 500.810SectionReserves; computation; additional reserves; plan to restore compliance; effect of noncompliance; examination of reserve practices and investment incomes.
Section 500.811SectionRepealed. 1994, Act 148, Imd. Eff. June 7, 1994.
Section 500.812SectionRepealed. 1969, Act 318, Eff. Mar. 20, 1970.
Section 500.813SectionRepealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992.
Section 500.814SectionCertification of loss reserves.
Section 500.814aSectionStatement of actuarial opinion; filing requirements; confidentiality; Michigan automobile insurance placement facility not property and casualty insurer.
Section 500.815SectionComputation of unearned premium reserve on mortgage guaranty insurance.
Section 500.815aSectionEstablishment of contingency reserve by mortgage guaranty insurer.
Section 500.816SectionRepealed. 1969, Act 318, Eff. Mar. 20, 1970.
Section 500.817SectionRepealed. 1966, Act 221, Imd. Eff. July 11, 1966.
Section 500.818, 500.822SectionRepealed. 1969, Act 318, Eff. Mar. 20, 1970.
Section 500.830SectionLife insurance policies and annuity and pure endowment contracts; life insurance contracts, annuity and pure endowment contracts, accident and health contracts, and deposit-type contracts; annual valuation of reserves; limitation; valuation fee; adopting lower standard of valuation; valuation of business of foreign cooperative or assessment insurer; definitions.
Section 500.830aSectionLife insurance; actuarial opinion; form; submission to director; liability of actuary; “qualified actuary” defined; limitation; public hearing; company with outstanding life insurance contracts, accident and health insurance contracts, or deposit-type contracts; actuarial opinion; requirements; definitions.
Section 500.831SectionDomestic insurer's business in foreign country; variance of mortality standard.
Section 500.832SectionValuation of life insurance policies and contracts issued before operative date of standard nonforfeiture law.
Section 500.834SectionValuation of life insurance policies and contracts issued on and after operative date of standard nonforfeiture law; minimum standard; reserves; definitions.
Section 500.835SectionValuation of individual annuity and pure endowment contracts; minimum standard; notice of election to invoke section; failure to make election; definitions.
Section 500.835aSectionIndividual annuity and pure endowment contracts purchased after December 31, 2014; annuities and pure endowments purchased after December 31, 2014 under group annuity and pure endowment contracts; valuation; tables and interest rates; definitions.
Section 500.836SectionCalendar year statutory valuation interest rates; use; determination; weighting factors; “reference interest rate” defined; alternative method for determination of reference interest rate; changes to policy or contract forms; computing reference interest rate for calendar year 1986.
Section 500.836aSectionValuation of disability plans and contracts issued before date of valuation manual; regulations; accidental and health insurance contracts; definitions.
Section 500.836bSectionValuation manual; establishment of reserves using principle-based valuation; duties of company; confidential information; exemption; election to comply with subsections (1) to (5); measurement of ordinary life premiums; definitions.
Section 500.837SectionDefinitions; valuation requirements for universal life insurance policies.
Section 500.838SectionDefinitions; use of NAIC accounting practices and procedures manual; mortality table; separate rates for smokers and nonsmokers; determining minimum reserve liabilities, minimum cash surrender values, and amounts of paid-up nonforfeiture benefits; actuarial opinion; application of accounting practices and procedural manual; rates and charges based on gender; blended tables; basis as sex-distinct and sex-neutral.
Section 500.838aSectionDefinitions; 2001 CSO preferred class structure mortality table.
Section 500.839SectionCapital notes.
Section 500.840SectionRepealed. 1969, Act 318, Eff. Mar. 20, 1970.
Section 500.841SectionValuation of certain bonds or other evidences of debt.
Section 500.842SectionValuation of certain securities, stocks, or shares.
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