Michigan Laws 500.7933 – Financial condition of member insurer; reports and recommendations; advice to commissioner; exemption from public disclosure
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(1) The association may submit reports and make recommendations to the commissioner regarding the financial condition of any member insurer. The reports and recommendations shall not be considered public documents.
(2) After the commissioner has entered an order restricting the certificate of authority of an insurer, the association shall render advice to the commissioner, upon his or her request, concerning rehabilitation, payment of claims, continuation of coverage, or the performance of other obligations of the insurer.
Terms Used In Michigan Laws 500.7933
- Commissioner: means the director. See Michigan Laws 500.102
- Insurer: means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. See Michigan Laws 500.106
- Member insurer: means an insurer required to be a member of the association pursuant to section 7911. See Michigan Laws 500.7921
(3) Any reports, recommendations, and advice prepared in compliance with this section shall be exempt from public disclosure.