Section 500.6842 - Failure to make assessment; penalty.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.6842 Failure to make assessment; penalty.
Sec. 6842.
Any person being a resident of this state, acting as president, secretary or other officer of any such mutual insurance company, doing business in this state under authority of this chapter, who shall wilfully refuse, or neglect to make assessments as provided in section 6840 shall be deemed guilty of a misdemeanor, and upon conviction thereof shall be punished by a fine not exceeding $1,000.00 nor less than $500.00, or by imprisonment in the county jail not less than 6 months nor more than 1 year, or both such fine and imprisonment in the discretion of the court.
History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218