Section 257.531 - Self-insurance; certificate, cancellation. - Michigan Statutes

MICHIGAN VEHICLE CODE (EXCERPT)
Act 300 of 1949

257.531 Self-insurance; certificate, cancellation.

Sec. 531.

(a) Any person in whose name more than 25 motor vehicles are registered may qualify as a self-insurer by obtaining a certificate of self-insurance issued by the secretary of state as provided in paragraph (b) of this section.

(b) The secretary of state may, in his discretion, upon the application of such a person, issue a certificate of self-insurance when he is satisfied that such person is possessed and will continue to be possessed of ability to pay judgments obtained against such person.

(c) Upon not less than 5 days' notice and a hearing pursuant to such notice, the secretary of state may upon reasonable grounds cancel a certificate of self-insurance. Failure to pay any judgment within 30 days after such judgment shall have become final shall constitute a reasonable ground for the cancellation of a certificate of self-insurance.

History: 1949, Act 300, Eff. Sept. 23, 1949