THE INSURANCE CODE OF 1956
Act 218 of 1956
500.8101 Construction and purpose of chapter.
Sec. 8101.
(1) This chapter shall not be interpreted to limit the powers granted the commissioner by other provisions of this code.
(2) This chapter shall be liberally construed to effect the purpose stated in subsection (3).
(3) The purpose of this chapter is the protection of the interests of insureds, claimants, creditors, and the public with minimum interference with the normal prerogatives of the owners and managers of insurers, through the following:
(a) Early detection of potentially dangerous conditions in an insurer and prompt application of appropriate corrective measures.
(b) Improved methods for rehabilitating insurers, involving the cooperation and management expertise of the insurance industry.
(c) Enhanced efficiency and economy of liquidation to minimize legal uncertainty and litigation.
(d) Equitable apportionment of unavoidable loss.
(e) Lessening the problems of interstate rehabilitation and liquidation by facilitating cooperation between states in the liquidation process and by extending the scope of personal jurisdiction over debtors of the insurer outside this state.
(f) Regulation of the insurance business relating to delinquency procedures and rules on the entire insurance business.
(4) This chapter does not apply to insurers that are subject to delinquency proceedings commenced prior to January 1, 1990. Delinquency proceedings commenced prior to January 1, 1990, shall be conducted pursuant to former chapter 78.
History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990
PopularName Notes:
Act 218
Notes of Decisions
Comm'r of Ins. v. Arcilio, 561 N.W.2d 412 (Mich. Ct. App. 1997).
· cites it 3× “On August 11, 1994, pursuant to this state’s insurers rehabilitation and liquidation act (irla), MCL 500.8101 et seq.; MSA 24.18101 et seq.”
Comm'r of Ins. v. Albino, 572 N.W.2d 21 (Mich. Ct. App. 1997).
· cites it 4× “Similarly, after an insurance company has entered rehabilitation, the IC has extensive obligations to rehabilitate or dissolve the company, and to reduce the risk of loss to policyholders.”
Ins. Comm'r v. Aageson Thibo Agency, 573 N.W.2d 637 (Mich. Ct. App. 1998).
“Pursuant to his authority under chapter 81 of the Insurance Code governing the supervision, rehabilitation, and liquidation of insolvent insurance companies, MCL 500.8101 et seq.) MSA 24.18101 et seq.”
Dep't of Transp. v. Am. Motorists Ins., 305 Mich. App. 250 (Mich. Ct. App. 2014).
“215 ILCS 5/191 provides that “[t]he Director and his successor and successors in office shall be vested by operation of law with the title to all property, contracts, and rights of action of the company as of the date of the order directing rehabilitation or liquidation.”
Comm'r of Ins. of Michigan v. DMD Kyoto Plaza Shopping Ctr., L.L.C., 42 F. Supp. 2d 726 (W.D. Mich. 1998).
“§ 500.8104(3). Once delinquency proceedings have commenced, the Ingham County Circuit Court may issue an injunction to prevent interference with the receiver, waste of the insurer’s assets, or the commencement or further prosecution of any actions against the estate.”
Stanley Jackson v. Suburban Mobility Auth. for Reg'l Trans (Mich. Ct. App. 2017).
“Also at the time of the injury, American had been placed in Chapter 81 rehabilitation pursuant to MCL 500.8101 et seq. Shortly after the injury, plaintiff sent notice of his injury to SMART pursuant to the notice requirement for recovery of no-fault benefits under MCL 500.”
Stanley Jackson v. Suburban Mobility Auth. for Reg'l Trans (Mich. Ct. App. 2017).
“Also at the time of the injury, American had been placed in Chapter 81 rehabilitation pursuant to MCL 500.8101 et seq. Shortly after the injury, plaintiff sent notice of his injury to SMART pursuant to the notice requirement for recovery of no-fault benefits under MCL 500.”
— Mich. Comp. Laws § 500.8101(2) — 1 case
Comm'r of Ins. v. Arcilio, 561 N.W.2d 412 (Mich. Ct. App. 1997).
“On August 11, 1994, pursuant to this state’s insurers rehabilitation and liquidation act (irla), MCL 500.8101 et seq.; MSA 24.18101 et seq.”
Annotations are extracted automatically from the opinions in the
Syfert caselaw corpus and ranked by authority, recency, and
treatment. Dots show Syfertize treatment of the citing case itself.