Michigan § 500.6027 - Transfer, assignment, or diversion of business from converted business.
Full text of Michigan Michigan Compiled Laws § 500.6027 — Transfer, assignment, or diversion of business from converted business., with citation guidance and answers to common questions.
§ 500.6027. Transfer, assignment, or diversion of business from converted business.
Without the commissioner's prior approval, neither the converted company nor any other person affiliated with or controlling the converted company shall transfer, assign, or divert business from the converted company to any other insurance company or affiliate if the purpose or effect of doing so would be to reduce significantly the number of members of the mutual holding company. What is a significant reduction shall be determined by the commissioner after examination of the converted company's business reasons for effecting any such transfer, assignment, or diversion.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.6027
What does Michigan Compiled Laws § 500.6027 cover?
Section 500.6027 ("Transfer, assignment, or diversion of business from converted business.") 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 § 500.6027?
A common citation format is "Michigan Compiled Laws § 500.6027" (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 § 500.6027 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.