Introduced
by
To revise details of the law that establishes regulations governing the liability of the Michigan life and health insurance guaranty association to pay off claims by the beneficiary of an insolvent insurance company, the obligations of which have become a demand on the guaranty association. Guaranty associations are essentially the insurers of insurance companies, providing coverage to an insolvent company’s policyholders up to a certain level. See also House Bills 6323 to 6335.
Referred to the Committee on Insurance
Reported without amendment
With the recommendation that the substitute (H-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that revises details but does not change the substance of the bill as previously described.
The substitute passed by voice vote
Passed in the House 103 to 0 (details)
Referred to the Committee on Banking and Financial Institutions
Reported without amendment
With the recommendation that the bill pass.
Passed in the Senate 38 to 0 (details)
To revise details of the law that establishes regulations governing the liability of the Michigan life and health insurance guaranty association to pay off claims by the beneficiary of an insolvent insurance company, the obligations of which have become a demand on the guaranty association. Guaranty associations are essentially the insurers of insurance companies, providing coverage to an insolvent company’s policyholders up to a certain level. See also House Bills 6323 to 6335.
