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OpenJurist

Chapter

SUPERVISION, REHABILITATION, AND LIQUIDATION

  • Mich. Comp. Laws § 500.8101— Construction and purpose of chapter
  • Mich. Comp. Laws § 500.8102— Applicability of proceedings authorized by chapter
  • Mich. Comp. Laws § 500.8103— Definitions
  • Mich. Comp. Laws § 500.8104— Commencement of delinquency proceeding; jurisdiction; stay of proceedings
  • Mich. Comp. Laws § 500.8105— Receiver; application for relief
  • Mich. Comp. Laws § 500.8106— Cooperation with commissioner; obstruction or interference prohibited; existing legal rights not abridged; penalties; petition for relief
  • Mich. Comp. Laws § 500.8107— Official bonds
  • Mich. Comp. Laws § 500.8108a— Prohibited conduct by insurer
  • Mich. Comp. Laws § 500.8109— Orders; determination; supervision of insurer; restrictions; compliance; hearings; notice; time; judicial review; review of supervisor's action; violation of supervision order; penalty; enforcement of supervision order; personal liability to insurer for reduction of net worth or loss; action; costs and expenses
  • Mich. Comp. Laws § 500.8110— Seizure order
  • Mich. Comp. Laws § 500.8111— Confidentiality; exception; “third parties” defined
  • Mich. Comp. Laws § 500.8112— Rehabilitation of insurer; petition; grounds
  • Mich. Comp. Laws § 500.8113— Order to rehabilitate insurer; provisions; filing as notice; title to assets vested in rehabilitator; accounting
  • Mich. Comp. Laws § 500.8114— Commissioner as rehabilitator; appointment of special deputies; employment of counsel, clerks, and assistants; compensation; terms; expenses; powers of rehabilitator; criminal or tortious conduct; breach of contractual or fiduciary obligation; plan to effect changes; avoidance of fraudulent transfers
  • Mich. Comp. Laws § 500.8115— Stay of action or proceeding; purpose; duties of rehabilitator; statute of limitations; laches; standing of guaranty association
  • Mich. Comp. Laws § 500.8115a— Netting agreement or qualified financial contract; rights; transfer; duties of receiver; exception; rights of counterparties; definitions
  • Mich. Comp. Laws § 500.8116— Order of liquidation; petition; duties of circuit court; order terminating rehabilitation; restoration to possession of property and control of business
  • Mich. Comp. Laws § 500.8117— Liquidation of domestic or alien insurer; basis
  • Mich. Comp. Laws § 500.8118— Order of liquidation; provisions; filing as notice; rights and liabilities; judicial declaration of insolvency; accounting
  • Mich. Comp. Laws § 500.8118a— Order transferring title to and possession of trusteed assets; actions of court; considerations
  • Mich. Comp. Laws § 500.8119— Order of liquidation; continuation of policies in force; termination of coverages
  • Mich. Comp. Laws § 500.8120— Dissolution of corporation
  • Mich. Comp. Laws § 500.8121— Powers of liquidator; extended reporting period; powers and authority not exclusive; delaying sale of assets
  • Mich. Comp. Laws § 500.8122— Notice of liquidation; filing claims; changes of address
  • Mich. Comp. Laws § 500.8123— Notice by agent to policyholder; report of compliance; penalty; waiver
  • Mich. Comp. Laws § 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 of insurer; period of limitation; statute of limitation or defense of laches
  • Mich. Comp. Laws § 500.8124a— Guaranty association or foreign guaranty association; court standing; right to intervene; jurisdiction
  • Mich. Comp. Laws § 500.8125— List of insurer's assets; amendments and supplements; filing; reduction of assets to liquidity; submission of assets for disbursement
  • Mich. Comp. Laws § 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; perfection of transfer; transfer creating equitable lien; fraudulent transaction of insurer with reinsurer
  • Mich. Comp. Laws § 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; validity of transfer against receiver; payment of indebtedness or delivery of property to insurer; knowledge of pending rehabilitation or liquidation; burden of proof; currency or negotiable instruments not impaired
  • Mich. Comp. Laws § 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; summary jurisdiction; hearing; notice; order; liability of surety; set off against preference; examination of transactions; payment of attorney; personal liability; recovery of certain commissions in delinquency proceedings
  • Mich. Comp. Laws § 500.8129— Claim of creditor; allowance; excused late filing
  • Mich. Comp. Laws § 500.8130— Setoff or counterclaim
  • Mich. Comp. Laws § 500.8130a— Contributions of parties; determination by court; distribution to stockholders; recovery of distributions; limitations
  • Mich. Comp. Laws § 500.8131— Report of liquidator to court; levy of assessment; order to show cause; notice; hearing; determination; enforcement
  • Mich. Comp. Laws § 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 guaranty association
  • Mich. Comp. Laws § 500.8133— Payment of unpaid earned premium; recovery of unearned premium; prohibited credits and setoffs; violation; penalty; notice; hearing; appeal
  • Mich. Comp. Laws § 500.8133a— Deductible agreement; collateral as asset maintained and administered by receiver; jurisdiction of circuit court; rights of guaranty association or foreign guaranty association; applicability to delinquency proceedings; applicability to first party claims; definitions
  • Mich. Comp. Laws § 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 funds; limitation
  • Mich. Comp. Laws § 500.8135— Proof of claims; filing; circumstances permitting late filing; receipt of distributions by late filing claimants
  • Mich. Comp. Laws § 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 damages; claims of guaranty association
  • Mich. Comp. Laws § 500.8137— Contingent claims; discounting claims at legal rate of interest; claims made under employment contracts
  • Mich. Comp. Laws § 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 assets; delay in final payment; filing of several claims founded on 1 policy; prohibited claims
  • Mich. Comp. Laws § 500.8139— Denial of claim; filing of objections; hearing; notice
  • Mich. Comp. Laws § 500.8140— Subrogation to rights of creditor; distribution; excess received by creditor
  • Mich. Comp. Laws § 500.8141— Value of security; determination; supervision and control; crediting amount determined; deficiency treated as unsecured claim; surrender of security to liquidator
  • Mich. Comp. Laws § 500.8141a— Payment of special deposit claims; priority; transfer of special deposits
  • Mich. Comp. Laws § 500.8142— Priority of distribution of claims from insurer's estate; class of claims; subclasses prohibited; order of distribution; assets in separate account; definitions
  • Mich. Comp. Laws § 500.8143— Review of claims by liquidator; investigation; negotiation; unresolved disputes; report on claims by liquidator; approval, disapproval, or modification; limitation
  • Mich. Comp. Laws § 500.8144— Distributions; manner of payment; distribution of assets in kind
  • Mich. Comp. Laws § 500.8145— Disposition of unclaimed or withheld funds
  • Mich. Comp. Laws § 500.8146— Application for discharge
  • Mich. Comp. Laws § 500.8147— Petition to reopen proceedings
  • Mich. Comp. Laws § 500.8148— Retention or destruction of records
  • Mich. Comp. Laws § 500.8149— Audits
  • Mich. Comp. Laws § 500.8150— Conservator
  • Mich. Comp. Laws § 500.8151— Petition for order directing commissioner to liquidate assets; grounds; notice; order; liquidator as ancillary receiver; commissioner as receiver; paying claims of residents
  • Mich. Comp. Laws § 500.8152— Vesting of title in domiciliary liquidator or commissioner; filing claims
  • Mich. Comp. Laws § 500.8153— Petition requesting appointment of ancillary receiver; order; notice; powers and duties of ancillary receiver
  • Mich. Comp. Laws § 500.8154— Institution of proceedings under MCL 500.8109 to 500.8111
  • Mich. Comp. Laws § 500.8155— Filing of claims; proof; conclusiveness of final allowance of claims
  • Mich. Comp. Laws § 500.8156— Filing of claims; proof; recommendation; hearing; notice; appearance or representation; conclusiveness of final allowance of claim
  • Mich. Comp. Laws § 500.8157— Prohibited action or proceeding
  • Mich. Comp. Laws § 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 creditor; discharge of claim
  • Mich. Comp. Laws § 500.8159— Failure to transfer assets