Michigan § 550.358 Certificate of authority; revocation; liquidation.

Michigan Statutes

§ 550.358 — Certificate of authority; revocation; liquidation.

Michigan § 550.358

Ch. 550GENERAL INSURANCE LAWS

Act 125 of 1963NONPROFIT DENTAL CARE CORPORATIONS (550.351-550.373)

This text of Michigan § 550.358 (Certificate of authority; revocation; liquidation.) 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 § 550.358 (2026).

Text

NONPROFIT DENTAL CARE CORPORATIONS (EXCERPT) Act 125 of 1963 550.358 Certificate of authority; revocation; liquidation. Sec.

8.The commissioner of insurance, after reasonable notice and hearing, may revoke a certificate, order or consent, made by him and forbid applications for membership, upon being satisfied that further solicitation of subscribers would work a fraud upon the persons so solicited. He may make such investigations from time to time as he deems best and grant hearings to the incorporators. He shall have the same authority in respect to taking over or liquidating a corporation formed or doing business under this act as is provided by chapter 78 of Act No. 218 of the Public Acts of 1956, as amended, being sections 500.7800 to 500.7868 of the Compiled Laws of 1948. A dissolut

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NONPROFIT DENTAL CARE CORPORATIONS (EXCERPT) Act 125 of 1963 550.358 Certificate of authority; revocation; liquidation. Sec. 8. The commissioner of insurance, after reasonable notice and hearing, may revoke a certificate, order or consent, made by him and forbid applications for membership, upon being satisfied that further solicitation of subscribers would work a fraud upon the persons so solicited. He may make such investigations from time to time as he deems best and grant hearings to the incorporators. He shall have the same authority in respect to taking over or liquidating a corporation formed or doing business under this act as is provided by chapter 78 of Act No. 218 of the Public Acts of 1956, as amended, being sections 500.7800 to 500.7868 of the Compiled Laws of 1948. A dissolution or liquidation of a corporation shall be conducted under the supervision of the commissioner, who shall have the same power with respect thereto as granted to him under provisions of the law for the dissolution and liquidation of insurance companies.

Legislative History

1963, Act 125, Eff. Sept. 6, 1963 Compiler's Notes: 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.