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Current as of February 09, 2022 | Updated by FindLaw Staff
Sec. 7921. As used in this chapter:
(a) “Insolvent insurer” means an insurer which has been a member insurer and against whom a final order of liquidation has been entered with a finding of insolvency by a court of competent jurisdiction in the insurer's state of domicile. The date on which the order becomes final shall be the date on which all appeals of the finding of insolvency are exhausted. If the finding of insolvency in the order of liquidation is not appealed, the order of liquidation shall be considered final on the date the order was issued.
(b) “Member insurer” means an insurer required to be a member of the association pursuant to section 7911. 1
Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 500. Insurance Code of 1956 § 500.7921 - last updated February 09, 2022 | https://codes.findlaw.com/mi/chapter-500-insurance-code-of-1956/mi-comp-laws-500-7921/
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