Michigan § 500.5416 - Mutual life insurer; extension of powers; procedure.
Full text of Michigan Michigan Compiled Laws § 500.5416 — Mutual life insurer; extension of powers; procedure., with citation guidance and answers to common questions.
§ 500.5416. Mutual life insurer; extension of powers; procedure.
A mutual life insurer may extend its corporate powers to transact disability insurance by amending its articles of incorporation and bylaws in accordance with the provisions of section 5202: Provided, Such amendment is first approved by a vote of 2/3 of its members in person or by proxy at an annual or special meeting called for that purpose pursuant to notice given in accordance with the bylaws, which notice shall specify the additional kind of insurance which it is proposed to transact.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.5416
What does Michigan Compiled Laws § 500.5416 cover?
Section 500.5416 ("Mutual life insurer; extension of powers; procedure.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 500.5416?
A common citation format is "Michigan Compiled Laws § 500.5416" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 500.5416 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.