2006 House Bill 6231 ↩

Senate Roll Call 632: Passed

To establish caps on the obligation of the Michigan insurance guaranty association to pay off certain claims to 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.