Terms Used In Michigan Laws 500.5102

• Acquiring insurer: means a domestic stock insurer, domestic mutual insurer, or reciprocal or inter-insurance exchange organized pursuant to this chapter. See Michigan Laws 500.5100
• Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
• Insurer: means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. See Michigan Laws 500.106
• person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
• State accident fund: means the state accident fund created pursuant to the worker's disability compensation act of 1969, Act No. See Michigan Laws 500.5100
• Transfer: means the acquisition by an acquiring insurer of all or substantially all of the assets, and assumption by the acquiring insurer of all or substantially all of the liabilities of, the state accident fund pursuant to Act No. See Michigan Laws 500.5100