Michigan Compiled Laws § 500.1807 Risk Retention Group Chartered In State; Plan Of Operation Or Feasibility Study.

500.1807 Risk retention group chartered in state; plan of operation or feasibility study.

Sec. 1807.

Before it may offer insurance in this state, a risk retention group chartered in this state shall submit to the commissioner for approval a plan of operation or feasibility study and, within 10 days of a change, shall submit an appropriate revision if a subsequent material change in an item of the plan of operation or feasibility study occurs. The risk retention group shall not offer any additional kinds of liability insurance until a revision of the plan of operation or feasibility study is approved by the commissioner.

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

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Last modified: October 10, 2016