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Sponsored captive insurance companies; business entities as participants.

MCL 500.4667
in effect
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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. 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-500-4667Fetched: 10/20/2026

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