Mich. Comp. Laws § 500.7921

Current through Public Act 57 of the 2024 Legislative Session

Section 500.7921 - "Insolvent insurer" and "member insurer" defined

As used in this chapter:

(a) "Insolvent insurer" means an insurer which has been a member insurer and against whom a final order of liquidation has been entered with a finding of insolvency by a court of competent jurisdiction in the insurer's state of domicile. The date on which the order becomes final shall be the date on which all appeals of the finding of insolvency are exhausted. If the finding of insolvency in the order of liquidation is not appealed, the order of liquidation shall be considered final on the date the order was issued.

(b) "Member insurer" means an insurer required to be a member of the association pursuant to section 7911.

MCL 500.7921

Amended by 2006, Act 363, s 1, eff. 9/18/2006.

Add. 1969, Act 277, Imd. Eff. 8/11/1969 ;--Am. 1980, Act 41, Imd. Eff. 3/17/1980 ;--Am. 1989, Act 302, Imd. Eff. 1/3/1990 ;--Am. 1990, Act 137, Eff. 6/29/1990 ;--Am. 1993, Act 200, Eff. 12/28/1994.