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Form a Business

Formation of domestic mutual insurer; nonprofit status; powers of nonprofit mutual disability insurer; limitation.

MCL 500.5801
in effect
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500.5801. Formation of domestic mutual insurer; nonprofit status; powers of nonprofit mutual disability insurer; limitation. 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. Add. 2013, Act 5, Imd. Eff. Mar. 18, 2013 [PopularName] Act 218
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-500-5801Fetched: 10/20/2026

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