Michigan § 390.1129 Annual excess loss as obligation of state; payment; limitation; payment of incurred loss.

Michigan Statutes

§ 390.1129 — Annual excess loss as obligation of state; payment; limitation; payment of incurred loss.

Michigan § 390.1129

Ch. 390UNIVERSITIES AND COLLEGES

Act 315 of 1977INDEMNIFICATION RESERVE FUND (390.1121-390.1131)

This text of Michigan § 390.1129 (Annual excess loss as obligation of state; payment; limitation; payment of incurred loss.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 390.1129 (2026).

Text

INDEMNIFICATION RESERVE FUND (EXCERPT) Act 315 of 1977 390.1129 Annual excess loss as obligation of state; payment; limitation; payment of incurred loss. Sec. 9.

(1)The annual excess loss shall be an obligation of this state and shall be paid directly to the claimant from the general fund of the state.

(2)The amount paid by the state shall not exceed $100,000.00 per judgment, settlement, or award per year, plus interest at a rate not to exceed 6% per year of the unpaid balance until the entire amount of the judgment, settlement, or award is paid.

(3)An incurred loss shall first be paid from the indemnification reserve fund.

Free access — add to your briefcase to read the full text and ask questions with AI

INDEMNIFICATION RESERVE FUND (EXCERPT) Act 315 of 1977 390.1129 Annual excess loss as obligation of state; payment; limitation; payment of incurred loss. Sec. 9. (1) The annual excess loss shall be an obligation of this state and shall be paid directly to the claimant from the general fund of the state. (2) The amount paid by the state shall not exceed $100,000.00 per judgment, settlement, or award per year, plus interest at a rate not to exceed 6% per year of the unpaid balance until the entire amount of the judgment, settlement, or award is paid. (3) An incurred loss shall first be paid from the indemnification reserve fund.