Section 500.7086 - Security fund as creditor of insolvent MEWA; reimbursement from insolvent MEWA. - Michigan Statutes

THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956

500.7086 Security fund as creditor of insolvent MEWA; reimbursement from insolvent MEWA.

Sec. 7086.

The security fund after paying a covered claim to an employee or dependent shall have all the rights of a creditor of the insolvent MEWA to the extent of benefits it paid. The board shall have the right and obligation to obtain reimbursement from an insolvent MEWA for any money paid out as benefits to the covered participants of the insolvent MEWA, including expenses pertinent to payments or recovery thereof.

History: Add. 1986, Act 121, Eff. July 1, 1986
Popular Name: Act 218