Domestic cooperative plan insurers; qualifications to write group insurance.

Sec. 6414. No such insurer shall do a business of group insurance in Michigan until it shall have accrued a contingency reserve deposit as defined and described in section 6434 in the amount of $100,000.00, and shall have obtained from the commissioner a certificate of authority to write group insurance. History: 1956, Act 218, Eff. Jan. 1, 1957