A bill to amend 1956 PA 218, entitled “The insurance code of 1956,” by amending sections 5228, 5230, and 5245 (MCL 500.5228, 500.5230, and 500.5245), as amended by 2020 PA 266.
Modernizes the governance of corporations and domestic insurers. It proposes allowing the adoption of bylaws for conducting meetings via electronic communication devices, ensuring participants are deemed present in person. This includes provisions for directors and stockholders or members to participate in meetings electronically, outlines the process for calling special meetings, the requirement for notice of meetings, and the conditions under which electronic meetings can be held.
Introduced
by
Referred to the Committee on Insurance and Financial Services
