§ 500.5800 Applicability of chapter
§ 500.5801 Formation of domestic mutual insurer; nonprofit status; powers of nonprofit mutual disability insurer; limitation
§ 500.5803 Mutual holding company resulting from reorganization considered as domestic mutual insurance company
§ 500.5804 Domestic mutual insurers; incorporation
§ 500.5805 Merger of nonprofit health care corporation with nonprofit mutual disability insurer
§ 500.5810 Domestic mutual insurers; qualification for certificate of authority
§ 500.5818 Domestic mutual insurers; rights of corporation and other bodies to be members
§ 500.5824 Voting rights of members; administrative services agreements
§ 500.5825 Rights or interests of member of nonprofit mutual disability insurer; dissolution or winding up of nonprofit mutual disability insurer; distribution and administration of residual value; conditions re
§ 500.5826 Offering health care benefits to residents regardless of health status
§ 500.5828 Domestic mutual insurers; contingent liability of members; nonassessable policies
§ 500.5836 Mutual insurers; borrowed capital
§ 500.5840 Domestic mutual insurers; deficiency in assets; assessment of members

Terms Used In Michigan Laws > Chapter 500 > Act 218 of 1956 > Chapter 58 - General Mutual Insurers (Domestic)

  • Accredited: means approved by an accrediting body recognized by the United States Department of Education. See Michigan Laws 390.1692
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Authority: means a promise zone authority created under this act. See Michigan Laws 390.1663
  • Authorization: means either of the following:
  (i) An authorization from the department under section 4(1) to participate in a reciprocal agreement. See Michigan Laws 390.1692
  • Baseline: Projection of the receipts, outlays, and other budget amounts that would ensue in the future without any change in existing policy. Baseline projections are used to gauge the extent to which proposed legislation, if enacted into law, would alter current spending and revenue levels.
  • Board: means the governing body of an authority. See Michigan Laws 390.1663
  • Center: means the center for educational performance and information created in section 94a of the school aid act of 1979, 1979 PA 94, MCL 388. See Michigan Laws 390.1703
  • College or university: means a degree or certificate granting public or private college or university, junior college, or community college. See Michigan Laws 390.1692
  • Commissioner: means the director. See Michigan Laws 500.102
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Department: means the department of licensing and regulatory affairs. See Michigan Laws 390.1692
  • Department: means the department of labor and economic opportunity. See Michigan Laws 390.1703
  • Distance education: means education that uses 1 or more technologies to deliver instruction to students who are separated from the instructor, and to support regular and substantive interaction between the students and the instructor, either synchronously or asynchronously. See Michigan Laws 390.1692
  • Eligible entity: means a city, township, county, local school district, or intermediate school district, in which the percentage of families with children under age 18 that are living at or below the federal poverty level is greater than or equal to the state average of families with children under age 18 living at or below the federal poverty level, as determined by the department of treasury. See Michigan Laws 390.1663
  • Eligible institution: means a postsecondary educational institution that meets all of the following:
    •   (i) Is an accredited public community college in this state. See Michigan Laws 390.1703
  • Escheat: Reversion of real or personal property to the state when 1) a person dies without leaving a will and has no heirs, or 2) when the property (such as a bank account) has been inactive for a certain period of time. Source: OCC
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Governing body: means the elected body of an eligible entity that has legislative powers. See Michigan Laws 390.1663
  • in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
  • Industry-recognized certificate or credential: means a certificate or credential that is portable and is sought or accepted by multiple employers within an industry for purposes of recruitment, hiring, or promotion. See Michigan Laws 390.1703
  • 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
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
  • Michigan reconnect grant student: means a student admitted to and enrolled in an eligible institution, regardless of whether the student is receiving a Michigan reconnect grant under this act. See Michigan Laws 390.1703
  • Oversight: Committee review of the activities of a Federal agency or program.
  • Participating college: means a college or university that is located in this state; elects to participate in a reciprocal agreement under this act; and meets the requirements of section 4. See Michigan Laws 390.1692
  • person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
  • Promise of financial assistance: means a commitment by an eligible entity to provide financial resources for public or private postsecondary education, including a vocational program, to eligible students living in a promise zone and who have graduated from a public high school or nonpublic high school located within that promise zone. See Michigan Laws 390.1663
  • Promise zone: means that area created by a governing body under this act. See Michigan Laws 390.1663
  • Promise zone development plan: means that plan developed by an authority under this act that will ensure that the financial resources are available to adequately fund the promise of financial assistance. See Michigan Laws 390.1663
  • Qualified educational expenses: means tuition and fees required for the enrollment or attendance of a student at an educational institution, and may also include, if provided for in an authority's promise zone development plan, expenses for fees, books, supplies, and equipment required for courses of instruction at that educational institution. See Michigan Laws 390.1663
  • Rate: means the cost of insurance per payroll before adjustment for an individual insured's size, exposure, or loss experience. See Michigan Laws 500.2402
  • Reciprocal agreement: means an agreement between this state and a higher education compact or 1 or more other states that allows participating colleges to provide distance education to residents of this state and other member states under this act. See Michigan Laws 390.1692
  • Restitution: The court-ordered payment of money by the defendant to the victim for damages caused by the criminal action.
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
  • State education tax: means the tax levied under the state education tax act, 1993 PA 331, MCL 211. See Michigan Laws 390.1663
  • Trustee: A person or institution holding and administering property in trust.
  • United States: shall be construed to include the district and territories. See Michigan Laws 8.3o