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Michigan Compiled Laws Complete Through PA 19 of 2024
House: Adjourned until Tuesday, March 19, 2024 1:30:00 PM
Senate: Adjourned until Tuesday, March 19, 2024 10:00:00 AM


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Act 66 of 1933
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EMERGENCY INSURANCE LEGISLATION

Act 66 of 1933

AN ACT to regulate insurance corporations, fraternal benefit and other societies and associations doing an insurance business in Michigan during and under certain emergencies, to extend the powers of the commissioner of insurance over such companies and business in such emergencies; to prevent preferences among policyholders and creditors of such companies in the payment of debts and claims and withdrawals of cash; to preserve the solvency and integrity of such companies during such emergencies for the benefit of all policyholders and other obligees of such companies and societies; and to limit certain legal process and proceedings for the period prescribed herein.


History: 1933, Act 66, Imd. Eff. Apr. 28, 1933
Compiler's Notes: For transfer of the Department of Insurance and Office of the Commissioner on Insurance from the Department of Licensing and Regulation to the Department of Commerce, see E.R.O. No. 1991-9, compiled at MCL 338.3501 of the Michigan Compiled Laws.




The People of the State of Michigan enact:

DocumentTypeDescription
Section 550.1SectionDeclaration of emergency.
Section 550.2SectionInsurance company disbursement limitations.
Section 550.3SectionInsurance commissioner regulatory powers.
Section 550.4SectionForeign insurance companies; other states' regulations, application.
Section 550.5SectionPurposes of act.
Section 550.6SectionSuits against insurance companies; statute of limitations, extension.
Section 550.7SectionDuration of emergency; proclamations.
Section 550.8SectionViolation of act; misdemeanor; license revocation, grounds.
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