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Property and casualty guaranty association; board of governors; appointment, terms, and qualifications of members; vacancy.

MCL 500.7912
in effect
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500.7912. Property and casualty guaranty association; board of governors; appointment, terms, and qualifications of members; vacancy. Sec. 7912. (1) The association shall be managed by a board of governors, composed of 5 member insurers and 2 persons representing the general public, each of whom shall be appointed by the commissioner to serve for terms of 3 years and until their successors are appointed and qualified. Three of the governors who are member insurers shall be domestic insurers and 2 shall be foreign insurers. At least 2 governors who are member insurers shall be stock insurers and at least 2 shall be nonstock insurers. The 5 governors who are member insurers shall be representative, as nearly as possible, of all the kinds of insurance covered by this chapter. (2) In case of a vacancy for any reason in the office of any governor, the commissioner shall appoint a person to fill the unexpired term of the vacant office to maintain the membership of the board as required in subsection (1). Add. 1969, Act 277, Imd. Eff. Aug. 11, 1969; Am. 1982, Act 502, Eff. Mar. 30, 1983 [PopularName] Act 218
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-500-7912Fetched: 10/20/2026

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