2006 House Bill 6230 ↩

Senate Roll Call 626: Passed

To revise details of the law that establishes regulations governing the liability of the Michigan insurance guaranty association, regarding its obligation to pay off claims by the beneficiary of an insolvent insurance company, the obligations of which have become a demand on the guaranty association. Guaranty associations are essentially the insurers of insurance companies, providing coverage to an insolvent company’s policyholders up to a certain level. The bill is part of package comprised of House Bills 6223 to 6235.