Sec. 5801. (1) A domestic mutual insurer may be formed with nonprofit status. (2) A nonprofit mutual disability insurer has all powers of a mutual insurer organized under this chapter unless expressly reserved. A nonprofit mutual disability insurer that has merged with a nonprofit health care corporation as provided in section 5805(1) shall not convert its status to a stock insurer under chapter 59 or reorganize under chapter 60.
Mich. Comp. Laws § 500.5801
Formation of domestic mutual insurer; nonprofit status; powers of nonprofit mutual disability insurer; limitation
Applied in 1 court decision — leading case Waisanen v. Superior Township (2014)
Most recently applied in Waisanen v. Superior Township (June 2014)
Add. 2013, Act 5, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.