Interstate Insurance Receivership Compact
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| Interstate Insurance Receivership Compact | |
| Formation date: | 1996 |
| Member jurisdictions: | 3 |
| Issue(s): | Industry regulation |
 | |
The Interstate Insurance Receivership Compact is an interstate compact among Illinois, Michigan and Nebraska. The goal of this compact is to develop better-coordinated approaches to handling insolvent insurance companies, especially in the case of multistate insurers. The compact also created a commission to oversee receiverships, with commissioners being appointed by each member state. All states are eligible to join his compact.[1]
Text of the compact
The legislature of each member state passes the laws with certain modifications, but the core of the legislation remains the same.
See also
External links
- The Council of State Governments - National Center for Interstate Compacts
- Interstate Insurance Receivership Compact
Footnotes
