{"data":{"id":"us-mi/mich.-comp.-laws-500.5248","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.5248","heading":"Directors, officers, and employees of domestic insurer; compensation.","body":"Sec. 5248.\n\n(1) No domestic insurer shall pay any salary, compensation, or emolument to any officer or director of the domestic insurer unless the payment is first authorized by a vote of the board of directors of the insurer.\n\n(2) A director, officer, or employee of a domestic insurer shall not be compensated unreasonably. The compensation of any director or officer of a domestic insurer shall not be calculated, directly or indirectly, as a percentage of premiums collected or insurance written by the insurer, without the approval of the commissioner.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-5248","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"ce121b230ca6d621141f38e9d64a2647065eeb776d62efbd80487e4220f77276","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.5246","next":"us-mi/mich.-comp.-laws-500.525"},"notice":"GroundRules: Original legal text. Not legal advice."}