STATE STATUTES & CODES

MICHIGAN STATUTES AND CODES

218-1956-81 - CHAPTER 81 SUPERVISION, REHABILITATION, AND LIQUIDATION (500.8101...500.8160)

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

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