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Exercise of control of risk management function by parent or affiliated company; standards.

MCL 500.4659
in effect
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500.4659. Exercise of control of risk management function by parent or affiliated company; standards. Sec. 4659. The commissioner by rule, regulation, or order may establish standards to ensure that a parent or affiliated company is able to exercise control of the risk management function of any controlled unaffiliated business to be insured by the pure captive insurance company. Until such time as the standards are established, the commissioner may by temporary order grant authority to a pure captive insurance company to insure risks. Add. 2008, Act 29, Imd. Eff. Mar. 13, 2008 [PopularName] Act 218
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-500-4659Fetched: 10/20/2026

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