Subarticle - CHAPTER 81. SUPERVISION, REHABILITATION, AND LIQUIDATION
- Section 500.8101 - Construction and purpose of chapter
- Section 500.8102 - Applicability of proceedings authorized by chapter
- Section 500.8103 - Definitions
- Section 500.8104 - Commencement of delinquency proceeding; jurisdiction; stay of proceedings
- Section 500.8105 - Receiver; application for relief
- Section 500.8106 - Cooperation with commissioner; obstruction or interference prohibited; existing legal rights not abridged; penalties; petition for relief
- Section 500.8107 - Official bonds
- Section 500.8108a - Prohibited conduct by insurer
- Section 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
- Section 500.8110 - Seizure order
- Section 500.8111 - Confidentiality; exception; "third parties" defined
- Section 500.8112 - Rehabilitation of insurer; petition; grounds
- Section 500.8113 - Order to rehabilitate insurer; provisions; filing as notice; title to assets vested in rehabilitator; accounting
- Section 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
- Section 500.8115 - Stay of action or proceeding; purpose; duties of rehabilitator; statute of limitations; laches; standing of guaranty association
- Section 500.8115a - Netting agreement or qualified financial contract; rights; transfer; duties of receiver; exception; rights of counterparties; definitions
- Section 500.8116 - Order of liquidation; petition; duties of circuit court; order terminating rehabilitation; restoration to possession of property and control of business
- Section 500.8117 - Liquidation of domestic or alien insurer; basis
- Section 500.8118 - Order of liquidation; provisions; filing as notice; rights and liabilities; judicial declaration of insolvency; accounting
- Section 500.8118a - Order transferring title to and possession of trusteed assets; actions of court; considerations
- Section 500.8119 - Order of liquidation; continuation of policies in force; termination of coverages
- Section 500.8120 - Dissolution of corporation
- Section 500.8121 - Powers of liquidator; extended reporting period; powers and authority not exclusive; delaying sale of assets
- Section 500.8122 - Notice of liquidation; filing claims; changes of address
- Section 500.8123 - Notice by agent to policyholder; report of compliance; penalty; waiver
- Section 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
- Section 500.8124a - Guaranty association or foreign guaranty association; court standing; right to intervene; jurisdiction
- Section 500.8125 - List of insurer's assets; amendments and supplements; filing; reduction of assets to liquidity; submission of assets for disbursement
- Section 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
- Section 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
- Section 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
- Section 500.8129 - Claim of creditor; allowance; excused late filing
- Section 500.8130 - Setoff or counterclaim
- Section 500.8130a - Contributions of parties; determination by court; distribution to stockholders; recovery of distributions; limitations
- Section 500.8131 - Report of liquidator to court; levy of assessment; order to show cause; notice; hearing; determination; enforcement
- Section 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
- Section 500.8133 - Payment of unpaid earned premium; recovery of unearned premium; prohibited credits and setoffs; violation; penalty; notice; hearing; appeal
- Section 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
- Section 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
- Section 500.8135 - Proof of claims; filing; circumstances permitting late filing; receipt of distributions by late filing claimants
- Section 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
- Section 500.8137 - Contingent claims; discounting claims at legal rate of interest; claims made under employment contracts
- Section 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
- Section 500.8139 - Denial of claim; filing of objections; hearing; notice
- Section 500.8140 - Subrogation to rights of creditor; distribution; excess received by creditor
- Section 500.8141 - Value of security; determination; supervision and control; crediting amount determined; deficiency treated as unsecured claim; surrender of security to liquidator
- Section 500.8141a - Payment of special deposit claims; priority; transfer of special deposits
- Section 500.8142 - Priority of distribution of claims from insurer's estate; class of claims; subclasses prohibited; order of distribution; assets in separate account; definitions
- Section 500.8143 - Review of claims by liquidator; investigation; negotiation; unresolved disputes; report on claims by liquidator; approval, disapproval, or modification; limitation
- Section 500.8144 - Distributions; manner of payment; distribution of assets in kind
- Section 500.8145 - Disposition of unclaimed or withheld funds
- Section 500.8146 - Application for discharge
- Section 500.8147 - Petition to reopen proceedings
- Section 500.8148 - Retention or destruction of records
- Section 500.8149 - Audits
- Section 500.8150 - Conservator
- Section 500.8151 - Petition for order directing commissioner to liquidate assets; grounds; notice; order; liquidator as ancillary receiver; commissioner as receiver; paying claims of residents
- Section 500.8152 - Vesting of title in domiciliary liquidator or commissioner; filing claims
- Section 500.8153 - Petition requesting appointment of ancillary receiver; order; notice; powers and duties of ancillary receiver
- Section 500.8154 - Institution of proceedings under MCL 500.8109 to 500.8111
- Section 500.8155 - Filing of claims; proof; conclusiveness of final allowance of claims
- Section 500.8156 - Filing of claims; proof; recommendation; hearing; notice; appearance or representation; conclusiveness of final allowance of claim
- Section 500.8157 - Prohibited action or proceeding
- Section 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
- Section 500.8159 - Failure to transfer assets
- Section 500.8160 - [Repealed]