Michigan § 550.231 Office agent of insurance company taken over by insurance commissioner or receiver; off-set for damages.

Michigan Statutes

§ 550.231 — Office agent of insurance company taken over by insurance commissioner or receiver; off-set for damages.

Michigan § 550.231

Ch. 550GENERAL INSURANCE LAWS

Act 143 of 1935OFFICE AGENT; SET-OFF FOR DAMAGES (550.231-550.233)

This text of Michigan § 550.231 (Office agent of insurance company taken over by insurance commissioner or receiver; off-set for damages.) 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 § 550.231 (2026).

Text

OFFICE AGENT; SET-OFF FOR DAMAGES (EXCERPT) Act 143 of 1935 550.231 Office agent of insurance company taken over by insurance commissioner or receiver; off-set for damages. Sec.

1.Any insurance agent, who has been the office agent of an insurance company taken over by the commissioner of insurance or an insurance company in the hands of a receiver, may off-set against any balance unpaid and owing such insurance company the damages resulting to such agent, and his insurance business, due to the taking over of such company by the commissioner of insurance or the placing of such company in the hands of a receiver.

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OFFICE AGENT; SET-OFF FOR DAMAGES (EXCERPT) Act 143 of 1935 550.231 Office agent of insurance company taken over by insurance commissioner or receiver; off-set for damages. Sec. 1. Any insurance agent, who has been the office agent of an insurance company taken over by the commissioner of insurance or an insurance company in the hands of a receiver, may off-set against any balance unpaid and owing such insurance company the damages resulting to such agent, and his insurance business, due to the taking over of such company by the commissioner of insurance or the placing of such company in the hands of a receiver.

Legislative History

1935, Act 143, Imd. Eff. June 4, 1935 ;-- CL 1948, 550.231 Compiler's Notes: For transfer of the Department of Insurance and Office of the Commissioner on Insurance from the Department of Licensing and Regulation to the Department of Commerce, see E.R.O. No. 1991-9, compiled at MCL 338.3501 of the Michigan Compiled Laws.For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.