2006 House Bill 6225 ↩

Senate Roll Call 621: Passed

To revise details, and clarify and add regulations, to the law that establishes that the Michigan insurance guaranty association, and ones from other states, have standing to intervene in lawsuits regarding an insolvent insurance company whose obligations may become a demand on the guaranty association. Guaranty associations are essentially the insurers of insurance companies, providing coverage to the company’s policyholders who are state residents up to a certain level. The bill is part of package comprised of House Bills 6223 to 6235, which revise the state law governing the Michigan guaranty association.