Section 500.8300 – Repeals.
500.8300 Repeals. Sec. 8300. Act No. 256 of the Public Acts of 1917, as amended, being sections 501.1 to 548.107, inclusive, of the Compiled Laws of 1948, Act No. 151 of the Public Acts of 1893, being sections 550.151 and 550.152 of the Compiled Laws of 1948, and Act No. 158 of the Public Acts […]
Section 500.8301 – Saving Clause.
500.8301 Saving clause. Sec. 8301. This act shall not impair or affect any act done, offense committed or right accruing, accrued, or acquired, or liability, penalty, forfeiture or punishment incurred prior to the time this act takes effect, but the same may be enjoyed, asserted, enforced, prosecuted or inflicted, as fully and to the same […]
Section 500.8302 – Effective Date of Act.
500.8302 Effective date of act. Sec. 8302. This act shall become effective on January 1, 1957. History: 1956, Act 218, Eff. Jan. 1, 1957 Popular Name: Act 218
Section 500.8246 – Amendment or Reincorporation; Saving Clause.
500.8246 Amendment or reincorporation; saving clause. Sec. 8246. Such amendment or reincorporation shall not affect existing suits, claims, or contracts. History: 1956, Act 218, Eff. Jan. 1, 1957 Popular Name: Act 218
Section 500.8250 – Liens Upon Certificates; Notices to Members; Application of Section.
500.8250 Liens upon certificates; notices to members; application of section. Sec. 8250. If any fraternal benefit society, reorganizing under the provisions of this chapter shall have certificates in force, against the equity of which certificates a lien or other form of indebtedness has been placed, the society shall notify each member individually of the amount […]
Section 500.8254 – Certificates of Membership; Valuation; Reserve; Annual Statement.
500.8254 Certificates of membership; valuation; reserve; annual statement. Sec. 8254. The existing certificates of membership of any fraternal benefit society which shall have transformed itself into a legal reserve level premium life insurance company, in conformity with the provisions of this chapter, shall be valued as follows: (1) Certificates on which rates of contributions are […]
Section 500.8218 – Reorganization; Submission of Plan to Governing Body of Society; Meeting.
500.8218 Reorganization; submission of plan to governing body of society; meeting. Sec. 8218. The commissioner shall require the plan of transformation to be submitted to the supreme governing body of such society, to be voted upon. When submitted, it shall be either at a regular meeting of the supreme governing body or at a special […]
Section 500.8220 – Reorganization; Special Meeting; Notice; Approval; Required Vote; Proxies.
500.8220 Reorganization; special meeting; notice; approval; required vote; proxies. Sec. 8220. A notice of said special meeting, in the form approved by the commissioner, shall be given in accordance with the requirement of the bylaws of such society. When so submitted, a majority vote of the supreme governing body present and voting, as authorized by […]
Section 500.8224 – Reorganization; Members; Referendum.
500.8224 Reorganization; members; referendum. Sec. 8224. If the supreme governing body approves the plan of transformation, the board of directors or other managing body of such society shall submit the plan to a referendum vote of the members of such society, and if the result of such vote shall show that the majority of the […]
Section 500.8228 – Reorganization; Plan; Approval by Insurance Commissioner; Vote; Results.
500.8228 Reorganization; plan; approval by insurance commissioner; vote; results. Sec. 8228. Any such plan of transformation submitted to the supreme governing body as herein contemplated, must first have been approved by the commissioner; and the result of said vote must be filed with such commissioner and be by him determined before any transformation shall be […]