There is a newer version
of
this Section
2017 Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 THE INSURANCE CODE OF 1956 (500.100 - 500.8302)
218-1956-46 CHAPTER 46 CAPTIVE INSURANCE COMPANIES (500.4601...500.4673)
Section 500.4667 Sponsored captive insurance companies; business entities as participants.
Universal Citation: MI Comp L § 500.4667 (2017)
500.4667 Sponsored captive insurance companies; business entities as participants.
Sec. 4667.
(1) An association, a corporation, a limited liability company, a partnership, a trust, or other business entity may be a participant in a sponsored captive insurance company authorized pursuant to this chapter.
(2) A sponsor may be a participant in a sponsored captive insurance company.
(3) A participant need not be a shareholder of the sponsored captive insurance company or an affiliate of the company.
(4) A participant shall insure only its own risks through a sponsored captive insurance company, unless otherwise approved by the commissioner.
History: Add. 2008, Act 29, Imd. Eff. Mar. 13, 2008
Popular Name: Act 218
Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
