326.1(1)The Superintendent may approve the terms of an agreement to establish and maintain a fund to be known as the Mutual Insurance Guarantee Fund and to be held in trust by a trust company licensed under the Trust, Building and Loan Companies Licensing Act or the Loan and Trust Companies Act, as the case may be.

326.1(2)Subject to the approval of the Superintendent, an insurer licensed to transact business on the premium note plan may, notwithstanding any restriction in its letters patent or Act of incorporation, enter into, together with other insurers of the same class, the agreement approved under subsection (1).

326.1(1)The Superintendent may approve the terms of an agreement to establish and maintain a fund to be known as the Mutual Insurance Guarantee Fund and to be held in trust by a trust company licensed under the Trust, Building and Loan Companies Licensing Act or the Loan and Trust Companies Act, as the case may be.

326.1(2)Subject to the approval of the Superintendent, an insurer licensed to transact business on the premium note plan may, notwithstanding any restriction in its letters patent or Act of incorporation, enter into, together with other insurers of the same class, the agreement approved under subsection (1).