{"data":{"id":"us-mi/mich.-comp.-laws-500.6001","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.6001","heading":"Definitions.","body":"Sec. 6001.\n\nAs used in this chapter:\n\n\"Converted company\" means a Michigan domiciled stock insurance company that results from the reorganization of a mutual company under this chapter.\n\n\"Eligible member\" means a member whose policy is in force on the date the mutual company's board of directors adopts a plan of reorganization under this chapter.\n\n\"Intermediate holding company\" means a business corporation subsidiary of a mutual holding company domiciled in this state, any other state, or the District of Columbia that is authorized to issue 1 or more classes of capital stock, the corporate purposes of which include holding directly or indirectly the voting stock of a converted company.\n\n\"Member\" means a person who, on the records of the mutual company and pursuant to its articles of incorporation or bylaws, is considered to be a holder of a membership interest in the mutual company. A person insured under a group policy is not a member. On and after the effective date of a reorganization under this chapter, member means a member of the mutual holding company created in the reorganization.\n\n\"Mutual holding company\" or \"MHC\" means a mutual corporation resulting from a reorganization of a mutual company under this chapter.\n\n\"Mutual company\" means a domestic mutual insurance company organized under chapter 50, 54, or 58.\n\n\"Plan of reorganization\" or \"plan\" means a plan adopted pursuant to this chapter by the board of directors of a mutual company for the reorganization of the mutual company simultaneously into both a mutual holding company and a converted company existing as a direct or indirect stock subsidiary of the mutual holding company.\n\n\"Policy\" means a group or individual insurance policy or contract issued by a mutual company. The term policy does not include a certificate of insurance issued in connection with a group policy or contract.\n\n\"Policyholder\" means the holder of a policy other than a reinsurance contract.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-6001","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"b242b6e99b427d60df97199ec4d4dfecc4a986a595ef9843d5642fb44327febb","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.600","next":"us-mi/mich.-comp.-laws-500.6003"},"notice":"GroundRules: Original legal text. Not legal advice."}