§ 500.6400 Scope of chapter
§ 500.6402 Domestic cooperative plan insurers; organization
§ 500.6406 Domestic cooperative plan insurers; authorized kinds of insurance
§ 500.6410 Domestic cooperative plan insurers; qualifications for certificate of authority; issuance of policies
§ 500.6412 Domestic cooperative plan insurers; life insurer; qualifications to write annuity contracts
§ 500.6414 Domestic cooperative plan insurers; qualifications to write group insurance
§ 500.6418 Domestic cooperative plan insurers; directors; selection at annual meetings; first annual meeting
§ 500.6422 Domestic cooperative plan insurers; members; voting; quorum; inspection of books
§ 500.6428 Insurer transacting business under MCL 500.6406 subject to certain provisions
§ 500.6432 Domestic cooperative plan insurers; reserves; standards applicable
§ 500.6434 Contingency reserve; deposit
§ 500.6436 Domestic cooperative plan insurers; unlawful use of reserve funds; penalty
§ 500.6440 Domestic cooperative plan insurers; assessment of members; nonassessable policies
§ 500.6446 Domestic cooperative plan insurers; limits of risk; increased reserve; reinsurance
§ 500.6450 Guaranty fund; agreement; terms; repayment; other borrowed money
§ 500.6456 Domestic cooperative plan insurers; conversion into mutual insurer; procedure
§ 500.6460 New insurers organized after December 31, 1993

Terms Used In Michigan Laws > Chapter 500 > Act 218 of 1956 > Chapter 64 - Cooperative Plan Insurers (Domestic)

  • Advice and consent: Under the Constitution, presidential nominations for executive and judicial posts take effect only when confirmed by the Senate, and international treaties become effective only when the Senate approves them by a two-thirds vote.
  • annual meeting: when applied to townships, mean the annual meeting required by law to be held on the Saturday immediately preceding the first Monday in April. See Michigan Laws 8.3d
  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Blind person: means an individual who has a visual acuity of 20/200 or less in the better eye with correction, or has a limitation of his or her field of vision such that the widest diameter of the visual field subtends an angular distance not greater than 20 degrees, as determined by the commission. See Michigan Laws 393.351
  • Commission: means the commission for the blind. See Michigan Laws 393.351
  • Commissioner: means the director. See Michigan Laws 500.102
  • Concession: means equipment or location which is being used, or may be used to sell retail confections, tobaccos, papers, periodicals, and other like merchandise, coffee, milk, soft drinks, wrapped ice cream, wrapped sandwiches, wrapped baked goods, packaged salads and other similar food items. See Michigan Laws 393.351
  • Continuance: Putting off of a hearing ot trial until a later time.
  • Contract: A legal written agreement that becomes binding when signed.
  • Conviction: A judgement of guilt against a criminal defendant.
  • Department: means the department of labor. See Michigan Laws 393.351
  • Director: means the director of the commission. See Michigan Laws 393.351
  • Donor: The person who makes a gift.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • 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
  • 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
  • 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.
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
  • Public law: A public bill or joint resolution that has passed both chambers and been enacted into law. Public laws have general applicability nationwide.
  • Quorum: The number of legislators that must be present to do business.
  • 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
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • shall not apply: means that the pertinent provision is not operative as to certain persons or things or in conjunction with a particular date or dates. See Michigan Laws 8.4c
  • 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
  • Statute: A law passed by a legislature.