MCL - 218-1956-11

Act 218 of 1956
Chapter 11
Document Type Description
Section 500.1101 Section “Qualified United States financial institution” defined.
Section 500.1103 Section Credit for reinsurance as asset or reduction from liability; accredited reinsurer; trust fund; requirements; report to director; certified reinsurer requirements; obligation to arbitrate; trust agreement; list of reciprocal jurisdictions; suspension or revocation; hearing; recoverable assets; diversification; member of catastrophic claims association; definitions.
Section 500.1105 Section Reduction from liability by ceding insurer to assuming insurer not meeting requirements of MCL 500.1103; security.
Section 500.1106 Section Rules.
Section 500.1108-500.1120 Section Repealed. 1972, Act 360, Imd. Eff. Jan. 9, 1973.
Section 500.1121 Section Applicability of MCL 500.1123 to 500.1127 to certain insurers.
Section 500.1123 Section Reinsurance agreement; conditions prohibiting reduction in liability or establishment of asset; approval of commissioner; filing agreements.
Section 500.1124 Section Repealed. 1972, Act 360, Imd. Eff. Jan. 9, 1973.
Section 500.1125 Section Reinsurance agreement; use; execution; “reasonable period of time” defined; provisions; assumption of obligations by life and health insurance guaranty association.
Section 500.1127 Section Reinsurance agreements; reduction to zero of certain reserve credits or assets.