MCL - 218-1956-81

Act 218 of 1956
Chapter 81
Document Type Description
Section 500.8101 Section Construction and purpose of chapter.
Section 500.8102 Section Applicability of proceedings authorized by chapter.
Section 500.8103 Section Definitions.
Section 500.8104 Section Commencement of delinquency proceeding; jurisdiction; stay of proceedings.
Section 500.8105 Section Receiver; application for relief.
Section 500.8106 Section Cooperation with commissioner; obstruction or interference prohibited; existing legal rights not abridged; penalties; petition for relief.
Section 500.8107 Section Official bonds.
Section 500.8108a Section Prohibited conduct by insurer.
Section 500.8109 Section Orders; determination; supervision of insurer; restrictions; compliance; hearings; notice; time; judicial review; review of supervisor's action; violation of supervision order; penalty; enforcement of supervision order; personal liability to insurer for reduction of net worth or loss; action; costs and expenses.
Section 500.8110 Section Seizure order.
Section 500.8111 Section Confidentiality; exception; “third parties” defined.
Section 500.8112 Section Rehabilitation of insurer; petition; grounds.
Section 500.8113 Section Order to rehabilitate insurer; provisions; filing as notice; title to assets vested in rehabilitator; accounting.
Section 500.8114 Section Commissioner as rehabilitator; appointment of special deputies; employment of counsel, clerks, and assistants; compensation; terms; expenses; powers of rehabilitator; criminal or tortious conduct; breach of contractual or fiduciary obligation; plan to effect changes; avoidance of fraudulent transfers.
Section 500.8115 Section Stay of action or proceeding; purpose; duties of rehabilitator; statute of limitations; laches; standing of guaranty association.
Section 500.8115a Section Netting agreement or qualified financial contract; rights; transfer; duties of receiver; exception; rights of counterparties; definitions.
Section 500.8116 Section Order of liquidation; petition; duties of circuit court; order terminating rehabilitation; restoration to possession of property and control of business.
Section 500.8117 Section Liquidation of domestic or alien insurer; basis.
Section 500.8118 Section Order of liquidation; provisions; filing as notice; rights and liabilities; judicial declaration of insolvency; accounting.
Section 500.8118a Section Order transferring title to and possession of trusteed assets; actions of court; considerations.
Section 500.8119 Section Order of liquidation; continuation of policies in force; termination of coverages.
Section 500.8120 Section Dissolution of corporation.
Section 500.8121 Section Powers of liquidator; extended reporting period; powers and authority not exclusive; delaying sale of assets.
Section 500.8122 Section Notice of liquidation; filing claims; changes of address.
Section 500.8123 Section Notice by agent to policyholder; report of compliance; penalty; waiver.
Section 500.8124 Section Order appointing liquidator as bar to action at law or equity; full faith and credit to injunctions; intervention; expense; institution of action or proceeding on behalf of estate of insurer; period of limitation; statute of limitation or defense of laches.
Section 500.8124a Section Guaranty association or foreign guaranty association; court standing; right to intervene; jurisdiction.
Section 500.8125 Section List of insurer's assets; amendments and supplements; filing; reduction of assets to liquidity; submission of assets for disbursement.
Section 500.8126 Section Transfers and obligations as fraudulent; avoidance by receiver; retention of property, lien, or obligation as security for repayment; preservation of transfer or obligation; perfection of transfer; transfer creating equitable lien; fraudulent transaction of insurer with reinsurer.
Section 500.8127 Section Transfer of insurer's real property; validity; constructive notice of commencement of proceeding in rehabilitation or liquidation; judicial sale of real property of insurer; validity of transfer against receiver; payment of indebtedness or delivery of property to insurer; knowledge of pending rehabilitation or liquidation; burden of proof; currency or negotiable instruments not impaired.
Section 500.8128 Section Preference generally; transfers considered made or suffered; lien obtainable by legal or equitable proceedings; dissolution of voidable lien; discharge of property from lien; summary jurisdiction; hearing; notice; order; liability of surety; set off against preference; examination of transactions; payment of attorney; personal liability; recovery of certain commissions in delinquency proceedings.
Section 500.8129 Section Claim of creditor; allowance; excused late filing.
Section 500.8130 Section Setoff or counterclaim.
Section 500.8130a Section Contributions of parties; determination by court; distribution to stockholders; recovery of distributions; limitations.
Section 500.8131 Section Report of liquidator to court; levy of assessment; order to show cause; notice; hearing; determination; enforcement.
Section 500.8132 Section Amount recoverable by liquidator from reinsurers; reduction prohibited; reinsurer's obligation to insurer's estate; assumption of obligations by life and health insurance guaranty association.
Section 500.8133 Section Payment of unpaid earned premium; recovery of unearned premium; prohibited credits and setoffs; violation; penalty; notice; hearing; appeal.
Section 500.8133a Section Deductible agreement; collateral as asset maintained and administered by receiver; jurisdiction of circuit court; rights of guaranty association or foreign guaranty association; applicability to delinquency proceedings; applicability to first party claims; definitions.
Section 500.8134 Section Proposal to make early access disbursements; effect of insufficient assets; report; provisions of proposal; notice of application; action on application; return of early access funds; limitation.
Section 500.8135 Section Proof of claims; filing; circumstances permitting late filing; receipt of distributions by late filing claimants.
Section 500.8136 Section Proof of claim; statement; form; additional information or evidence; judgment or order entered by default or collusion; judgment or order as evidence of liability or quantum of damages; claims of guaranty association.
Section 500.8137 Section Contingent claims; discounting claims at legal rate of interest; claims made under employment contracts.
Section 500.8138 Section Third party claim; claim by insured; insured as unexcused late filer; recommendations of liquidator; withholding dividends; hearing; payment of insured; reversions to undistributed assets; delay in final payment; filing of several claims founded on 1 policy; prohibited claims.
Section 500.8139 Section Denial of claim; filing of objections; hearing; notice.
Section 500.8140 Section Subrogation to rights of creditor; distribution; excess received by creditor.
Section 500.8141 Section Value of security; determination; supervision and control; crediting amount determined; deficiency treated as unsecured claim; surrender of security to liquidator.
Section 500.8141a Section Payment of special deposit claims; priority; transfer of special deposits.
Section 500.8142 Section Priority of distribution of claims from insurer's estate; class of claims; subclasses prohibited; order of distribution; assets in separate account; definitions.
Section 500.8143 Section Review of claims by liquidator; investigation; negotiation; unresolved disputes; report on claims by liquidator; approval, disapproval, or modification; limitation.
Section 500.8144 Section Distributions; manner of payment; distribution of assets in kind.
Section 500.8145 Section Disposition of unclaimed or withheld funds.
Section 500.8146 Section Application for discharge.
Section 500.8147 Section Petition to reopen proceedings.
Section 500.8148 Section Retention or destruction of records.
Section 500.8149 Section Audits.
Section 500.8150 Section Conservator.
Section 500.8151 Section Petition for order directing commissioner to liquidate assets; grounds; notice; order; liquidator as ancillary receiver; commissioner as receiver; paying claims of residents.
Section 500.8152 Section Vesting of title in domiciliary liquidator or commissioner; filing claims.
Section 500.8153 Section Petition requesting appointment of ancillary receiver; order; notice; powers and duties of ancillary receiver.
Section 500.8154 Section Institution of proceedings under MCL 500.8109 to 500.8111.
Section 500.8155 Section Filing of claims; proof; conclusiveness of final allowance of claims.
Section 500.8156 Section Filing of claims; proof; recommendation; hearing; notice; appearance or representation; conclusiveness of final allowance of claim.
Section 500.8157 Section Prohibited action or proceeding.
Section 500.8158 Section Controlling order of distribution; equal priority of payment; priority against special deposits; deficiency; deferred sharing; surrender of security and filing claim as general creditor; discharge of claim.
Section 500.8159 Section Failure to transfer assets.
Section 500.8160 Section Repealed. 2001, Act 143, Imd. Eff. Oct. 26, 2001.