reglab/housing_qa huggingface dataset:
MI Comp L § 500.8141a (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8141a - Payment of Special Deposit Claims; Priority; Transfer of Special Deposits.

500.8141a Payment of special deposit claims; priority; transfer of special deposits. Sec. 8141a.  (1) Special deposit claims shall be paid pursuant to the following order of priority:  (a) To the receiver for the costs and expenses of the receivership.  (b) To the guaranty association for the costs and expenses of administration with respect to the payment of claims.  (c) To claims of Michigan policyholders of the insurer and to claimants of those Michigan policyholders.  (d) To Michigan beneficiaries of insurance contracts owned by non-Michigan residents.  (e) To other Michigan claimants of the insurer.  (f) To claims of non-Michigan policyholders of the insurer and to claimants of those non-Michigan policyholders.  (g) To non-Michigan beneficiaries of insurance contracts owned by non-Michigan residents.  (h) To the stockholders or owners of the insurer.  (2) Upon request of a guaranty association of this state to which the insurer is a member, special deposits made by the insurer shall be transferred to that guaranty association for the payment of claims pursuant to this section.  History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 ;-- Am. 1994, Act 443, Imd. Eff. Jan. 10, 1995 Compiler's Notes: Section 2 of Act 443 of 1994 provides:“Section 8141a of Act No. 218 of the Public Acts of 1956, being section 500.8141a of the Michigan Compiled Laws, as amended by this amendatory act is curative, reflects the original intent of the legislature, is retroactive, and is effective beginning January 3, 1990.”Popular Name: Act 218
MI Comp L § 500.8143 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8143 - Review of Claims by Liquidator; Investigation; Negotiation; Unresolved Disputes; Report on Claims by Liquidator; Approval, Disapproval, or Modification; Limitation.

500.8143 Review of claims by liquidator; investigation; negotiation; unresolved disputes; report on claims by liquidator; approval, disapproval, or modification; limitation. Sec. 8143.  (1) The liquidator shall review all claims duly filed in the liquidation and shall further investigate as he or she considers necessary. The liquidator may compound, compromise, or in any other manner negotiate the amount for which claims will be recommended to the court unless the liquidator is required by law to accept claims as settled by a person or organization, including a guaranty association or foreign guaranty association. Unresolved disputes shall be determined under section 8139. As soon as practicable, the liquidator shall present to the court a report of the claims against the insurer with his or her recommendations. The report shall include the name and address of each claimant and the amount of the claim finally recommended, if any. If the insurer has issued annuities or life insurance policies, the liquidator shall report the persons, according to the records of the insurer, to whom amounts are owed as cash surrender values or other investment value and the amounts owed.  (2) The court may approve, disapprove, or modify the report on claims by the liquidator. Reports not modified by the court within a period of 60 days following submission by the liquidator shall be treated by the liquidator as allowed claims, subject to later modification or to rulings made by the court pursuant to section 8139. A claim under a policy of insurance shall not be allowed for an amount in excess of the applicable policy limits. History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 Popular Name: Act 218
MI Comp L § 500.8144 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8144 - Distributions; Manner of Payment; Distribution of Assets in Kind.

500.8144 Distributions; manner of payment; distribution of assets in kind. Sec. 8144.  Under the court's direction, the liquidator shall pay distributions in a manner that will assure the proper recognition of priorities and a reasonable balance between the expeditious completion of the liquidation and the protection of unliquidated and undetermined claims, including third party claims. Distribution of assets in kind may be made at valuations set by agreement between the liquidator and the creditor and approved by the court. History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 Popular Name: Act 218
MI Comp L § 500.8145 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8145 - Disposition of Unclaimed or Withheld Funds.

500.8145 Disposition of unclaimed or withheld funds. Sec. 8145.  (1) All unclaimed funds subject to distribution remaining in the liquidator's hands when he or she is ready to apply to the court for discharge, including the amount distributable to a creditor, shareholder, member, or other person who is unknown or cannot be found, shall be deposited with the state treasurer, and shall be paid without interest except in accordance with section 8142 to the person entitled or his or her legal representative upon proof of right to it satisfactory to the state treasurer. An amount on deposit not claimed within 6 years from the discharge of the liquidator shall be considered to have been abandoned, shall escheat to the state without formal escheat proceedings, and shall be deposited in the general fund.  (2) All funds withheld under section 8137 and not distributed shall be deposited, upon discharge of the liquidator, with the state treasurer and paid by him or her in accordance with section 8142. Sums remaining which under section 8142 would revert to the undistributed assets of the insurer shall be transferred to the state treasurer and become the property of the state under subsection (1), unless the commissioner in his or her discretion petitions the court to reopen the liquidation under section 8147. History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 Popular Name: Act 218
MI Comp L § 500.8146 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8146 - Application for Discharge.

500.8146 Application for discharge. Sec. 8146.  (1) If all assets justifying the expense of collection and distribution have been collected and distributed under this chapter, the liquidator shall apply to the court for discharge. The court may grant the discharge and make any other orders, including an order to transfer any remaining funds that are uneconomic to distribute, as may be considered appropriate.  (2) Any other person may apply to the court at any time for an order under subsection (1). If the application is denied, the applicant shall pay the costs and expenses of the liquidator in resisting the application, including a reasonable attorney's fee. History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 Popular Name: Act 218
MI Comp L § 500.8147 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8147 - Petition to Reopen Proceedings.

500.8147 Petition to reopen proceedings.  Sec. 8147.  After the liquidation proceeding has been terminated and the liquidator discharged, the commissioner or other interested party may petition the circuit court at any time to reopen the proceedings for good cause, including the discovery of additional assets. If the court is satisfied that there is justification for reopening, it shall order a reopening. History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 Popular Name: Act 218
MI Comp L § 500.8148 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8148 - Retention or Destruction of Records.

500.8148 Retention or destruction of records.  Sec. 8148.  If it appears to the commissioner that the records of an insurer in process of liquidation or completely liquidated are no longer useful, the commissioner may recommend to the court and the court shall direct what records should be retained for future reference and what should be destroyed. History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 Popular Name: Act 218
MI Comp L § 500.8149 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8149 - Audits.

500.8149 Audits. Sec. 8149.  The circuit court may cause audits, as it considers desirable, to be made of the books of the commissioner relating to any receivership established under this chapter and a report of each audit shall be filed with the commissioner and with the court. The books, records, and other documents of the receivership shall be made available to the auditor at any time without notice. The expense of each audit shall be considered a cost of administration of the receivership. History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 Popular Name: Act 218
MI Comp L § 500.8150 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8150 - Conservator.

500.8150 Conservator. Sec. 8150.  (1) If a domiciliary liquidator has not been appointed, the commissioner may apply to the circuit court by verified petition for an order directing him or her to act as conservator to conserve the property of an alien insurer not domiciled in this state or a foreign insurer on any 1 or more of the following grounds:  (a) Any of the grounds in section 8112.  (b) That any of its property has been sequestered by official action in its domiciliary state, or in any other state.  (c) That enough of its property has been sequestered in a foreign country to give reasonable cause to fear that the insurer is or may become insolvent.  (d) That its certificate of authority to do business in this state has been revoked or that none was ever issued, and that there are residents of this state with outstanding claims or outstanding policies.  (2) If an order is sought under subsection (1), the court shall cause the insurer to be given notice and time to respond as is reasonable under the circumstances.   (3) The court may issue the order in whatever terms it considers appropriate. The filing or recording of the order with the clerk of the circuit court or the recorder of deeds of the county in which the principal business of the company is located shall impart the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that recorder of deeds would have imparted.   (4) The conservator may at any time petition for and the court may grant an order under section 8151 to liquidate assets of a foreign or alien insurer under conservation, or if appropriate for an order under section 8153 to be appointed ancillary receiver.  (5) The conservator may at any time petition the court for an order terminating conservation of an insurer. If the court finds that the conservation is no longer necessary, the court shall order that the insurer be restored to possession of its property and the control of its business. The court may also make such finding and issue such order at any time upon motion of any interested party, but if the motion is denied, all costs shall be assessed against that party. History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 Popular Name: Act 218
MI Comp L § 500.8151 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8151 - Petition for Order Directing Commissioner to Liquidate Assets; Grounds; Notice; Order; Liquidator as Ancillary Receiver; Commissioner as Receiver; Paying Claims of Residents.

500.8151 Petition for order directing commissioner to liquidate assets; grounds; notice; order; liquidator as ancillary receiver; commissioner as receiver; paying claims of residents. Sec. 8151.  (1) If a domiciliary receiver has not been appointed, the commissioner may apply to the circuit court by verified petition for an order directing him or her to liquidate the assets found in this state of a foreign insurer or an alien insurer not domiciled in this state, on any of the following grounds:  (a) Any of the grounds in section 8112 or 8117.  (b) Any of the grounds specified in section 8150(1)(b) to (d).   (2) If an order is sought under subsection (1), the court shall cause the insurer to be given notice and time to respond as is reasonable under the circumstances.   (3) If it appears to the court that the best interests of creditors, policyholders, and the public require, the court may issue an order to liquidate in terms the court considers appropriate. The filing or recording of the order with the clerk of the circuit court or the register of deeds of the county in which the principal business of the company is located or the county in which its principal office or place of business is located shall impart the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that register of deeds would have imparted.  (4) If a domiciliary liquidator is appointed in a reciprocal state while a liquidation is proceeding under this section, the liquidator under this section shall thereafter act as ancillary receiver under section 8153. If a domiciliary liquidator is appointed in a nonreciprocal state while a liquidation is proceeding under this section, the liquidator under this section may petition the court for permission to act as ancillary receiver under section 8153.  (5) On the same grounds as are specified in subsection (1), the commissioner may petition any appropriate federal district court to be appointed receiver to liquidate that portion of the insurer's assets and business over which the court will exercise jurisdiction or any lesser part thereof that the commissioner considers desirable for the protection of the policyholders and creditors in this state.   (6) The court may order the commissioner, when he or she has liquidated the assets of a foreign or alien insurer under this section, to pay claims of residents of this state against the insurer under rules as to the liquidation of insurers under this chapter as are otherwise compatible with the provisions of this section. History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 Popular Name: Act 218
MI Comp L § 500.8152 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8152 - Vesting of Title in Domiciliary Liquidator or Commissioner; Filing Claims.

500.8152 Vesting of title in domiciliary liquidator or commissioner; filing claims. Sec. 8152.  (1) The domiciliary liquidator of an insurer domiciled in a reciprocal state shall be vested by operation of law, except as to special deposits and security on secured claims under section 8153(3), with the title to all of the assets, property, contracts and rights of action, agents' balances, and all of the books, accounts, and other records of the insurer located in this state. The date of vesting shall be the date of the filing of the petition, if that date is specified by the domiciliary law for the vesting of property in the domiciliary state. Otherwise, the date of vesting shall be the date of entry of the order directing possession to be taken. The domiciliary liquidator shall have the immediate right to recover balances due from agents and to obtain possession of the books, accounts, and other records of the insurer located in this state. The domiciliary liquidator shall also have the right to recover all other assets of the insurer located in this state, subject to section 8153.   (2) If a domiciliary liquidator is appointed for an insurer not domiciled in a reciprocal state, the commissioner of this state shall be vested by operation of law with the title to all of the property, contracts and right of action, and all of the books, accounts, and other records of the insurer located in this state, at the same time that the domiciliary liquidator is vested with title in the domicile. The commissioner of this state may petition for a conservation or liquidation order under section 8150 or 8151, or for an ancillary receivership under section 8153, or after approval by the circuit court may transfer title to the domiciliary liquidator, as the interests of justice and the equitable distribution of the assets require.  (3) Claimants residing in this state may file claims with the liquidator or ancillary receiver, if any, in this state or with the domiciliary liquidator if the domiciliary law permits. The claims must be filed on or before the last date fixed for the filing of claims in the domiciliary liquidation proceedings. History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 Popular Name: Act 218
MI Comp L § 500.8153 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8153 - Petition Requesting Appointment of Ancillary Receiver; Order; Notice; Powers and Duties of Ancillary Receiver.

500.8153 Petition requesting appointment of ancillary receiver; order; notice; powers and duties of ancillary receiver.  Sec. 8153.  (1) If a domiciliary liquidator has been appointed for an insurer not domiciled in this state, the commissioner may file a petition with the circuit court requesting appointment as ancillary receiver in this state in either of the following cases:  (a) If he or she finds that there are sufficient assets of the insurer located in this state to justify the appointment of an ancillary receiver.  (b) If the protection of creditors or policyholders in this state requires.  (2) The court may issue an order appointing an ancillary receiver in terms as the court considers appropriate. The filing or recording of the order with the register of deeds in this state imparts the same notice as a deed, bill of sale, or other evidence of title duly filed or recorded with that register of deeds.  (3) If a domiciliary liquidator has been appointed in a reciprocal state the ancillary receiver appointed in this state may aid and assist the domiciliary liquidator in recovering assets of the insurer located in this state if necessary. The ancillary receiver shall liquidate from their respective securities, as soon as practicable, those special deposit claims and secured claims that are proved and allowed in the ancillary proceedings in this state and shall pay the necessary expenses of the proceedings. The ancillary receiver shall promptly transfer all remaining assets, books, accounts, and records to the domiciliary liquidator. Subject to this section, the ancillary receiver and his or her deputies shall have the same powers and be subject to the same duties with respect to the administration of assets as a liquidator of an insurer domiciled in this state.  (4) If a domiciliary liquidator has been appointed in this state, ancillary receivers appointed in reciprocal states shall have, as to assets and books, accounts, and other records in their respective states, corresponding rights, duties, and powers to those provided in subsection (3) for ancillary receivers appointed in this state. History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 Popular Name: Act 218
MI Comp L § 500.8154 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8154 - Institution of Proceedings Under MCL 500.8109 to 500.8111.

500.8154 Institution of proceedings under MCL 500.8109 to 500.8111. Sec. 8154.  The commissioner in his or her sole discretion may institute proceedings under sections 8109 to 8111 at the request of the commissioner or other appropriate insurance official of the domiciliary state of any foreign or alien insurer having property located in this state. History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 Popular Name: Act 218
MI Comp L § 500.8155 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-81 - Chapter 81 Supervision, Rehabilitation, and Liquidation (500.8101...500.8160)|Section 500.8155 - Filing of Claims; Proof; Conclusiveness of Final Allowance of Claims.

500.8155 Filing of claims; proof; conclusiveness of final allowance of claims. Sec. 8155.  (1) In a liquidation proceeding begun in this state against an insurer domiciled in this state, claimants residing in foreign countries or in states not reciprocal states shall file claims in this state, and claimants residing in reciprocal states may file claims either with the ancillary receivers, if any, in their respective states or with the domiciliary liquidator. Claims must be filed on or before the last date fixed for the filing of claims in the domiciliary liquidation proceeding.  (2) Claims belonging to claimants residing in reciprocal states may be proved either in the liquidation proceeding in this state as provided in this chapter or in ancillary proceedings, if any, in the reciprocal states. If notice of the claims and opportunity to appear and be heard is afforded the domiciliary liquidator of this state as provided in section 8156(2) with respect to ancillary proceedings, the final allowance of claims by the courts in ancillary proceedings in reciprocal states shall be conclusive as to amount and as to priority against special deposits or other security located in such ancillary states, but shall not be conclusive with respect to priorities against general assets under section 8142. History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990 Popular Name: Act 218