Michigan § 500.6029 - Receipt of fee, commission, or other consideration; payment of costs and expenses.
Full text of Michigan Michigan Compiled Laws § 500.6029 — Receipt of fee, commission, or other consideration; payment of costs and expenses., with citation guidance and answers to common questions.
§ 500.6029. Receipt of fee, commission, or other consideration; payment of costs and expenses.
A director, officer, agent, or employee of the mutual company or any other person shall not receive any fee, commission, or other valuable consideration, other than his or her usual salary and compensation, for aiding, promoting, or assisting in a reorganization under this chapter, except as provided for in the plan approved by the commissioner.
All the costs and expenses connected with a plan of reorganization shall be paid for or reimbursed by the mutual company or the converted company.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.6029
What does Michigan Compiled Laws § 500.6029 cover?
Section 500.6029 ("Receipt of fee, commission, or other consideration; payment of costs and expenses.") 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 § 500.6029?
A common citation format is "Michigan Compiled Laws § 500.6029" (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 § 500.6029 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.