MCL - 218-1956-46

Chapter 500
Act 218 of 1956

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THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956 CHAPTER 46
CAPTIVE INSURANCE COMPANIES

Document	Type	Description
Section 500.4601	Section	Definitions.
Section 500.4603	Section	Limited certificate of authority; application; conditions; organizational documents; submission; contents; liability of director; submission of documents to attorney general for examination; duty of commissioner to require, consider, and review certain documents and factors; issuance of certificate; confidentiality; fee; foreign captive insurance company as captive insurance company.
Section 500.4607	Section	Adoption of name by captive insurance company.
Section 500.4609	Section	Confidentiality requirements.
Section 500.4611	Section	Issuance of limited certificate of authority; possession and maintenance of unimpaired paid-in capital and retained earnings; form of minimum capitalization; incorporation as nonprofit; unencumbered equity; assets; evidence to be submitted to commissioner; additional capital; branch captive insurance company; security for payment of liabilities; trust fund; payment of dividends; limitation; distributions.
Section 500.4619	Section	Pure captive insurance company or sponsored captive insurance company; association captive insurance company or industrial insured captive insurance company; incorporation as stock insurer or limited liability company; issuance of capital stock or membership interests; formation of captive insurance company as corporation or nonprofit corporation or as limited liability company; state residency; chapter as controlling provision of law.
Section 500.4621	Section	Reports and inquiries.
Section 500.4623	Section	Sponsored captive insurance company; discount of reserves.
Section 500.4625	Section	Conflict between act and chapter; exemption; applicability of certain sections; expenses and charges of examination; annual renewal fee; other fees; employment of legal counsel; confidentiality.
Section 500.4637	Section	Limited certificate of authority; suspension or revocation; findings; best interest of public and policyholders.
Section 500.4639	Section	Association captive insurance company and industrial insured captive insurance company; compliance with investment requirements; pure captive insurance company and special purpose captive insurance company not subject to restrictions on allowable investments; exception; loans; combining of assets for purposes of investment; sponsored captive insurance companies to be in compliance with chapter 9; waiver of investment requirements.
Section 500.4641	Section	Reinsurance on risks ceded by other insurer.
Section 500.4643	Section	Rating organization; joining not required.
Section 500.4645	Section	Plan, pool, association, or guaranty or insolvency fund; joining, contributing to, or receiving benefit from prohibited.
Section 500.4651	Section	Rules.
Section 500.4655	Section	Applicability of terms and conditions in chapter 81 pertaining to administrative supervision, conservation, rehabilitation, receivership, and liquidation of insurers; payment of expenses or claims from assets of protected cell or from capital and surplus of sponsored captive insurance company.
Section 500.4659	Section	Exercise of control of risk management function by parent or affiliated company; standards.
Section 500.4663	Section	Sponsored captive insurance company; formation; establishment and maintenance of protected cell to insure risks; conditions.
Section 500.4665	Section	Sponsor of sponsored captive insurance company; authorized insurer; risk retention group as sponsor or participant prohibited; business written by sponsored captive insurance company with respect to protected cell; requirements.
Section 500.4667	Section	Sponsored captive insurance companies; business entities as participants.
Section 500.4669	Section	Sponsored captive insurance companies; applicability of terms and conditions in chapter 48 pertaining to protected cell insurance company.
Section 500.4673	Section	Captive insurance regulatory and supervision fund; creation; deposit of certain money, assets, fees, and assessments; money remaining in fund at close of fiscal year; commissioner as administrator for auditing purposes.