{"data":{"id":"us-mi/mich.-comp.-laws-550.1606","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 550.1606","heading":"Authority of commissioner regarding officers and directors; authority as to dissolution, taking over, or liquidation of corporations; insolvency defined.","body":"Sec. 606.\n\nThe commissioner shall have the same authority regarding the officers and directors of a health care corporation as the commissioner has with respect to the officers and directors of insurers under sections 249 and 250 of the insurance code of 1956, 1956 PA 218, MCL 500.249 and 500.250.\n\nThe commissioner shall have the same authority with respect to the dissolution, taking over, or liquidation of corporations formed or doing business under this act as is provided in chapter 81 of the insurance code of 1956, 1956 PA 218, MCL 500.8101 to 500.8159. For purposes of this subsection, a health care corporation shall be considered to be insolvent if its liabilities exceed its assets, unless otherwise defined in chapter 81 of the insurance code of 1956, 1956 PA 218, MCL 500.8101 to 500.8159.","path":["MI Code","Chapter 550","Act Act-350-of-1980"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-550-1606","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"6ca5fe48f2f7913e52599e37c6ec0149114c981b4e58b9099089d5d93bcb33e7","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-550.1605","next":"us-mi/mich.-comp.-laws-550.1607"},"notice":"GroundRules: Original legal text. Not legal advice."}