reglab/housing_qa huggingface dataset:
MI Comp L § 500.7018 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7018 - Temporary Certificate; Organization of Proposed Mewa; Opening Books to Commissioner; Condition to Issuance of Final Certificate.

500.7018 Temporary certificate; organization of proposed MEWA; opening books to commissioner; condition to issuance of final certificate. Sec. 7018.  (1) The MEWA, upon receipt of its initial certificate of authority, which shall be a temporary certificate, shall proceed to the completion of organization of the proposed MEWA.  (2) A MEWA shall open its books to the commissioner, and a final certificate of authority shall not be issued by the commissioner to any MEWA until it has collected in cash reserves as provided in section 7040. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7020 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7020 - Issuance of Policies by Mewa; Premium or Premium Deposit; Contingent Premium; Restoration of Cash Reserves.

500.7020 Issuance of policies by MEWA; premium or premium deposit; contingent premium; restoration of cash reserves.  Sec. 7020.  (1) The policies issued by the MEWA shall provide for a premium or premium deposit payable in cash and, except as herein provided, for a contingent premium at least equal to 1 month's premium or premium deposit, which may be prefunded, and in no event shall a member be liable for a greater amount than the premium or premium deposit expressed in the policy.  (2) The MEWA may issue its policy without a contingent premium when it has cash reserves as provided in section 7040.  (3) If at any time the cash reserves are less than the requirement of section 7040, the MEWA shall immediately collect upon policies with a contingent premium a sufficient proportionate part thereof to restore the cash reserves, provided no member shall be liable for any part of the contingent premium in excess of the amount demanded within 1 year after the termination of the policy. The commissioner may by written order direct that proceedings to restore the reserves be deferred during the time fixed in the order. History: Add. 1986, Act 121, Eff. July 1, 1986 ;-- Am. 1990, Act 126, Imd. Eff. June 26, 1990 Popular Name: Act 218
MI Comp L § 500.7022 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7022 - Name of Mewa; Proof of Existence of Mewa.

500.7022 Name of MEWA; proof of existence of MEWA. Sec. 7022.  No MEWA authorized under this chapter shall take any name which is the same as or closely resembles the name of any other MEWA doing business in this state. A MEWA shall transact its business under its own name, and shall not adopt any assumed name: excepting that a MEWA, by amending its articles, may change its name or take a new name with the approval of the commissioner. Whenever it shall be necessary, in any legal proceedings, to prove the existence of a MEWA, a certified copy of such MEWA's certificate of authority shall be prima facie evidence of the existence of the MEWA. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7024 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7024 - Powers of Mewa.

500.7024 Powers of MEWA. Sec. 7024.  Every MEWA, unless otherwise provided, or inconsistent with this chapter, shall have power:  (a) To have succession, by its name, for the term stated in its trust agreement, which shall be in perpetuity unless otherwise specified.  (b) To sue and be sued, complain and defend, in any court of law or equity or to be a party to any proceedings before any board or commission or other public body of this state or any other state or government; suits at law may be maintained by the MEWA against any of its members for any cause relating to the business of the MEWA.  (c) To have a seal which may be altered at pleasure and to use the seal by causing it or a facsimile of the seal to be impressed or affixed or reproduced, or otherwise.  (d) To appoint such officers and agents as the business of the MEWA shall require and to allow them suitable compensation.  (e) To make, alter, amend, and repeal bylaws for the regulation and government of its affairs.  (f) To conduct its business in this state, other states, the District of Columbia, the territories and colonies of the United States and in foreign countries and the territories and colonies thereof and have 1 or more offices out of this state and to acquire, purchase, hold, mortgage, pledge, assign, transfer and convey real and personal property out of this state subject to the provisions of this chapter. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7026 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7026 - Articles, Bylaws, and Trust Agreement of Mewa and Amendments Thereto; Filing; Approval; Form for Trust Agreement; Notice of Meeting; Voting Rights; Powers to Be Exercised by Board of Trustees; Restrictions on Trustees.

500.7026 Articles, bylaws, and trust agreement of MEWA and amendments thereto; filing; approval; form for trust agreement; notice of meeting; voting rights; powers to be exercised by board of trustees; restrictions on trustees. Sec. 7026.  (1) The articles, bylaws, and trust agreement of the MEWA and all amendments thereto shall be filed with and approved by the commissioner before becoming operative. The trust agreement shall be filed on a form prescribed by the commissioner.  (2) Each member employer of a MEWA shall be given notice of every meeting of the members and shall be entitled to an equal vote, either in person or by proxy in writing by such member.  (3) The powers of a MEWA, except as otherwise provided, shall be exercised by the board of trustees chosen to carry out the purposes of the trust agreement. Not less than 50% of the trustees shall be persons who are covered under the MEWA and no trustee shall be an owner, officer, or employee of a third party administrator who provides services to the MEWA. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7028 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7028 - Duties of Trustees; Limitation on Liability of Trustee.

500.7028 Duties of trustees; limitation on liability of trustee. Sec. 7028.  The trustees of a MEWA shall give the attention and exercise the vigilance, diligence, care, and skill that prudent persons use in like or similar circumstances. Trustees shall be responsible for all operations of the MEWA and shall take all necessary precautions to safeguard the assets of the MEWA. No trustee shall be held liable for any delinquency under this section after 6 years from the date of the delinquency, or after 2 years from the time when the delinquency is discovered by a person complaining of the delinquency, whichever occurs sooner. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7030 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7030 - Officers and Agents; Selection and Appointment; Authority and Duties; Removal; Bond.

500.7030 Officers and agents; selection and appointment; authority and duties; removal; bond. Sec. 7030.  The board of trustees shall select such officers as designated in the articles or bylaws and may appoint agents as they may deem necessary for the transaction of the business of the MEWA. All officers and agents shall respectively have such authority and perform such duties in the management of the property and affairs of the MEWA, as may be delegated by the board of trustees. Any officer or agent may be removed by the board of trustees whenever in their judgment the business interests of the MEWA will be served thereby. The board of trustees shall secure the fidelity of any or all of such officers or agents who handle the funds of the MEWA by bond or otherwise. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7032 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7032 - Compensation of Trustee, Officer, or Employee.

500.7032 Compensation of trustee, officer, or employee. Sec. 7032.  (1) A MEWA shall not pay any salary, compensation, or emolument to any officer or trustee of the MEWA, unless the payment is first authorized by a majority vote of the board of trustees of the MEWA.   (2) A trustee, officer, or employee of a MEWA shall not be compensated unreasonably. The compensation of any trustee or officer of a MEWA shall not be calculated, directly or indirectly, as a percentage of money or premiums collected, without the approval of the commissioner. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7034 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7034 - Trustee or Officer; Prohibited Conduct; Violation as Felony; Penalty.

500.7034 Trustee or officer; prohibited conduct; violation as felony; penalty. Sec. 7034.  (1) A trustee or officer of a MEWA shall not knowingly and intentionally, directly or indirectly, receive any money or valuable thing for negotiating, procuring, recommending, or aiding in any purchase by or sale to the MEWA of any property or any loan from the MEWA, or be pecuniarily interested, either as principal, co-principal, agent, or beneficiary in any such purchase, sale, or loan.  (2) A person who violates this section is guilty of a felony punishable by a fine of not more than $10,000.00, or by imprisonment for not more than 10 years, or both. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7040 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7040 - Financial Statements and Reports Required to Be Filed; Commingling of Cash Reserves Prohibited.

500.7040 Financial statements and reports required to be filed; commingling of cash reserves prohibited. Sec. 7040.  (1) Each MEWA transacting business in this state shall file all of the following with the commissioner:  (a) Within 90 days after the end of each fiscal year, financial statements audited by a certified public accountant. An actuarial opinion regarding reserves for known claims and associated expenses and incurred but not reported claims and associated expenses, in accordance with subdivision (c), should be included in the audited financial statement. The opinion shall be rendered by an actuary approved by the commissioner or who has 5 or more years of experience in this field.  (b) Within 60 days after the end of each fiscal quarter, unaudited financial statements, affirmed by an appropriate officer or agent of the MEWA.  (c) Within 60 days after the end of each fiscal quarter, a report certifying that the MEWA maintains reserves that are sufficient to meet its contractual obligations, and that it maintains a policy for excess loss insurance issued by an insurer authorized to do business in this state. The commissioner, after hearing, shall establish general standards for the manner and amount of the excess loss insurance required by this subdivision. A MEWA shall maintain minimum cash reserves of not less than 25% of the aggregate contributions in the current fiscal year or not less than 35% of the claims paid in the preceding fiscal year, whichever is greater. Reserves shall be calculated with proper actuarial calculations of all of the following:  (i) Known claims, paid and outstanding.  (ii) A history of incurred but not reported claims.  (iii) Claims handling expenses.  (iv) Unearned premiums.  (v) An estimate for bad debts.  (vi) A trend factor.  (d) A schedule of premium contributions, rates, and renewal projections.  (2) Cash reserves established pursuant to this section shall be maintained in a separate, identifiable account and shall not be commingled with other funds of the MEWA. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7044 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7044 - Notice to Individual Covered by Plan.

500.7044 Notice to individual covered by plan. Sec. 7044.  A MEWA, in connection with an employee welfare benefit plan, shall provide the following written notice to each individual covered by the plan:  (a) The fact that individuals covered by the plan are only partially insured.  (b) The fact that in the event the plan or the MEWA does not ultimately pay medical expenses that are eligible for payment under the plan for any reason, the individuals covered by the plan may be liable for those expenses. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7050 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7050 - Examination of Affairs of Mewa; Access to Books, Records, and Documents; Examination of Trustees, Officers, Agents, and Employees; Payment and Disposition of Assessment.

500.7050 Examination of affairs of MEWA; access to books, records, and documents; examination of trustees, officers, agents, and employees; payment and disposition of assessment. Sec. 7050.  The commissioner, or any person appointed by the commissioner, shall have the power to examine the affairs of any MEWA, and for such purposes shall have free access to all the books, records, and documents that relate to the business of the plan, and may examine under oath its trustees, officers, agents, and employees in relation to the affairs, transactions, and condition of the MEWA. Each authorized MEWA shall pay an assessment annually to the commissioner in an amount equal to 1/4 of 1% of the annual self-funded contributions made to the MEWA for that year. The assessments paid under this section shall be appropriated to the insurance bureau to cover the additional costs incurred by the insurance bureau in the examination and regulation of MEWAs under this chapter. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7060 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7060 - Additional Provisions to Which Mewa Subject.

500.7060 Additional provisions to which MEWA subject.Sec. 7060.  A MEWA transacting business in this state is also subject to the following additional sections and chapters of this act, as applicable, in the same manner as an insurer authorized to transact insurance in this state:  (a) Section 240(1)(c), (d), and (h).   (b) Chapter 12.  (c) Chapter 20.  (d) Chapter 22.  (e) Chapter 34.  (f) Chapter 44.  (g) Chapter 81. History: Add. 1986, Act 121, Eff. July 1, 1986 ;-- Am. 1999, Act 82, Imd. Eff. June 28, 1999 ;-- Am. 2016, Act 276, Imd. Eff. July 1, 2016 Popular Name: Act 218
MI Comp L § 500.7070 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7070 - Certificate of Authority; Grounds for Suspension, Revocation, or Limitation.

500.7070 Certificate of authority; grounds for suspension, revocation, or limitation. Sec. 7070.  The commissioner may suspend, revoke, or limit the certificate of authority of a MEWA if the commissioner determines that any of the following conditions exists:  (a) The MEWA has failed to maintain a policy for excess insurance as required by section 7011.  (b) The MEWA is using financial methods and practices in the conduct of its business which render further transaction of business in this state hazardous or injurious to its members, employees, beneficiaries, or to the public.  (c) The MEWA has failed, after written request by the commissioner, to remove or discharge an officer, director, trustee, or other employee who has been convicted of any crime involving fraud, dishonesty, or moral turpitude.  (d) The MEWA has failed or refused to furnish any report or statement required under section 7040.  (e) The MEWA has failed for an unreasonable period to pay any final judgment rendered against it in this state on any contractual obligation.  (f) The commissioner, upon investigation, determines that the MEWA is conducting business fraudulently, or is not meeting its contractual obligations in good faith. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7074 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7074 - Written Findings of Violation; Issuance and Service of Findings and Cease and Desist Order; Additional Orders.

500.7074 Written findings of violation; issuance and service of findings and cease and desist order; additional orders.  Sec. 7074.  If, after a hearing, the commissioner determines that a MEWA is violating or has violated a provision of this chapter, the commissioner shall reduce his or her findings and decision to writing, and shall issue and cause to be served upon the MEWA a copy of the findings and an order requiring the MEWA to cease and desist from engaging in the prohibited activity, and the commissioner may order any of the following:  (a) Payment of a monetary penalty of not more than $500.00 for each violation but not to exceed an aggregate penalty of $5,000.00, unless the MEWA knew or reasonably should have known it was in violation of this chapter, in which case the penalty shall not be more than $2,500.00 for each violation and shall not exceed an aggregate penalty of $25,000.00 for all violations committed in a 6-month period.  (b) Suspension or revocation of the MEWA's certificate of authority if the plan knowingly and persistently violated a provision of this chapter.  (c) Restitution or refund to an aggrieved person. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7076 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7076 - Violation of Cease and Desist Order; Notice; Hearing; Civil Fine; Suspension or Revocation of Certificate of Authority.

500.7076 Violation of cease and desist order; notice; hearing; civil fine; suspension or revocation of certificate of authority. Sec. 7076.  If a MEWA violates a cease and desist order under this chapter and has been given notice and an opportunity for a hearing, the commissioner may order a civil fine of not more than $10,000.00 for each violation, or a suspension or revocation of the MEWA's certificate of authority, or both the fine and suspension or revocation. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7078 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7078 - Conduct of Proceedings for Payment of Fines or for Suspension, Revocation, or Limitation of Certificate of Authority; Appeal of Disputed Claim; Hearing.

500.7078 Conduct of proceedings for payment of fines or for suspension, revocation, or limitation of certificate of authority; appeal of disputed claim; hearing. Sec. 7078.  (1) Proceedings for the payment of fines or for suspension, revocation, or limitation of a certificate of authority shall be conducted under the administrative procedures act of 1969, Act No. 306 of the Public Acts of 1969, being sections 24.201 to 24.328 of the Michigan Compiled Laws.  (2) Any employer in the MEWA or any employee covered under the MEWA may appeal a disputed claim to the commissioner. If the commissioner determines that there is a legitimate dispute, the commissioner or the commissioner's designee shall conduct a hearing pursuant to the administrative procedures act of 1969, Act No. 306 of the Public Acts of 1969. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7086 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7086 - Security Fund as Creditor of Insolvent Mewa; Reimbursement From Insolvent Mewa.

500.7086 Security fund as creditor of insolvent MEWA; reimbursement from insolvent MEWA. Sec. 7086.  The security fund after paying a covered claim to an employee or dependent shall have all the rights of a creditor of the insolvent MEWA to the extent of benefits it paid. The board shall have the right and obligation to obtain reimbursement from an insolvent MEWA for any money paid out as benefits to the covered participants of the insolvent MEWA, including expenses pertinent to payments or recovery thereof. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7090 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-70 - Chapter 70 Multiple Employer Welfare Arrangements (500.7001...500.7090)|Section 500.7090 - Effective Date of Chapter.

500.7090 Effective date of chapter. Sec. 7090.  This chapter shall take effect July 1, 1986. History: Add. 1986, Act 121, Eff. July 1, 1986 Popular Name: Act 218
MI Comp L § 500.7200 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-72 - Chapter 72 Reciprocal Insurance Exchanges (500.7200...500.7234)|Section 500.7200 - Scope of Chapter.

500.7200 Scope of chapter. Sec. 7200.  This chapter applies only to reciprocal insurers. History: 1956, Act 218, Eff. Jan. 1, 1957 Popular Name: Act 218