418.601 Definitions.
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418.601 Definitions.
Sec. 601.
Whenever used in this act:
(a)"Insurer" means an organization that transacts the business of worker's compensation insurance within this state.
(b)"Self-insurer" means either of the following:
(i)An individual employer authorized to carry its own risk.
(ii)A group of employers who pool their liabilities under this act as a group fund in the manner provided in section 611.
(c)"Carrier" means a self-insurer or an insurer.
History: 1969, Act 317, Eff. Dec. 31, 1969 ;-- Am. 1992, Act 269, Imd. Eff. Dec. 15, 1992 ;-- Am. 1993, Act 198, Eff. Dec. 28, 1994
Compiler's Notes: Section 3 of Act 198 of 1993 provides as follows:“Section 3. (1)Except as provided in subsection (2), this amendatory act shall not take effect unless the state administrative board certifies in writing to the secretary of state by December 31, 1994 that an agreement for the transfer of all or substantially all of the assets and the assumption of all or substantially all of the liabilities of the state accident fund has been consummated with a permitted transferee pursuant to the requirements of section 701a of the worker's disability compensation act of 1969, Act No. 317 of the Public Acts of 1969, being section 418.701a of the Michigan Compiled Laws, as added by this amendatory act.“(2) Sections 700 and 701a as added by this amendatory act shall take effect upon the date of enactment of this amendatory act.”
Popular Name: Act 317