Section 500.6844 - Surplus fund; accumulation.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.6844 Surplus fund; accumulation.
Sec. 6844.
Any company organized or operating under this chapter may provide in its charter or by amendment to its charter for the collection of assessments and/or premiums in excess of the amount required to cover current losses and expenses, for the purpose of accumulating a surplus fund.
History: 1956, Act 218, Eff. Jan. 1, 1957
Popular Name: Act 218