Michigan Compiled Laws § 500.1803 Risk Retention Group Chartered In State; Certificate Of Authority; License; Compliance.

500.1803 Risk retention group chartered in state; certificate of authority; license; compliance.

Sec. 1803.

(1) To be chartered in this state, a risk retention group shall obtain a certificate of authority from the commissioner and be licensed as a domestic stock or mutual casualty insurer.

(2) Except as otherwise provided in this chapter, a risk retention group chartered in this state shall comply with all statutes, rules, regulations, and requirements applicable to domestic stock or mutual casualty insurers.

(3) A certificate of authority issued to a risk retention group chartered in this state shall be limited to the business of insurance for liability.

History: Add. 1989, Act 214, Eff. Jan. 1, 1990
Popular Name: Act 218

Section: 500.1801  500.1803  500.1804  500.1805  500.1806  500.1807  500.1809  500.1810  500.1811  500.1812  500.1813  500.1815  500.1817  500.1819  500.1820  Next

Last modified: October 10, 2016