{"data":{"id":"us-mi/mich.-comp.-laws-500.5006","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.5006","heading":"Stock insurers; formation, number of incorporators required.","body":"Sec. 5006.\n\nAny number of persons, not less than 7, may associate together and form a stock insurer to transact any or all of the following kinds of insurance: Property, marine, inland navigation and transportation, or automobile insurance (limited), all as defined in chapter 6.\n\nThirteen or more persons may organize a stock insurer for the purpose of transacting any of the following kinds of insurance: Life, disability, casualty, or fidelity and surety, all as defined in chapter 6 or title as defined in chapter 73.\n\nAny number of persons, not less than 20, a majority of whom shall be citizens of this state, may become together with others who may hereafter be associated with them or their successors, a body corporate for the purpose of transacting life insurance, or life and disability insurance, on the mutual plan.\n\nAny number of persons, not less than 13, may incorporate a stock insurer for the purpose of insuring railway employees against loss of position, for transacting disability and life insurance, and granting annuities, all as identified in section 6604.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-5006","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"54a66067f056034ff5af79e13babd896af7a4e83d14d151788e11868655e3efd","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.5002","next":"us-mi/mich.-comp.-laws-500.5008"},"notice":"GroundRules: Original legal text. Not legal advice."}