Section 418.700 - “Effective date of the transfer” and “permitted transferee” defined.
WORKER'S DISABILITY COMPENSATION ACT OF 1969 (EXCERPT)
Act 317 of 1969
418.700 “Effective date of the transfer” and “permitted transferee” defined.
Sec. 700.
As used in this chapter:
(a) “Effective date of the transfer” means the date on which a transfer authorized by section 701a occurs.
(b) “Permitted transferee” means an insurer organized pursuant to chapter 51 of the insurance code of 1956, Act No. 218 of the Public Acts of 1956, being sections 500.5100 to 500.5114 of the Michigan Compiled Laws.
History: Add. 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