Section 500.8107 - Official bonds.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.8107 Official bonds.
Sec. 8107.
In a proceeding under this chapter, the commissioner and his or her deputies shall be responsible on their official bonds for the faithful performance of their duties. If the court considers it desirable for the protection of the assets, the court may at any time require an additional bond from the commissioner or his or her deputies, and the bond shall be paid for out of the assets of the insurer as a cost of administration.
History: Add. 1989, Act 302, Imd. Eff. Jan. 3, 1990
Popular Name: Act 218