Mich. Comp. Laws § 500.922

Current through Public Act 156 of the 2024 Legislative Session

Section 500.922 - Qualified assets in stocks, bonds, or evidences of corporate indebtedness; authorization

Qualified assets for purposes of section 901 include stocks, bonds, and other evidence of indebtedness of solvent corporations as approved by its board of directors or a committee of the board entrusted with the investment of the company's funds. The insurer may hold the stocks, bonds, and other evidences of indebtedness as an investment.

MCL 500.922

1956, Act 218, Eff. 1/1/1957 ;--Am. 1957, Act 91, Eff. 9/27/1957 ;--Am. 1969, Act 318, Eff. 3/20/1970 ;--Am. 1991, Act 79, Imd. Eff. 7/18/1991 ;--Am. 2002, Act 462, Imd. Eff. 6/21/2002 .