500.7949 Insurance commissioner; regulatory powers; visitation; examination; hearings.
174 words·~1 min read·
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500.7949 Insurance commissioner; regulatory powers; visitation; examination; hearings.
Sec. 7949.
(1)The operation of the association at all times shall be subject to the regulation of the commissioner. The commissioner, or any deputy or examiner, or any person whom the commissioner appoints, shall have the power of visitation and examination into the affairs of the association and free access to all books, papers and documents that relate to the business of the association, may summon and qualify witnesses under oath, and may examine officers, agents or employees or any other person having knowledge of the affairs, transactions or conditions of the association.
(2)Any member insurer aggrieved by any action or decision of the association may appeal to the commissioner within 30 days from the action or decision. Proceedings under this section are subject to the provisions of Act No. 197 of the Public Acts of 1952, as amended, being sections 24.101 to 24.110 of the Compiled Laws of 1948.
History: Add. 1969, Act 277, Imd. Eff. Aug. 11, 1969
Popular Name: Act 218