Michigan Compiled Laws § 500.1805 Risk Retention Group Chartered In State; Summary Form Of Required Information.

500.1805 Risk retention group chartered in state; summary form of required information.

Sec. 1805.

To be chartered in this state, a risk retention group shall provide to the commissioner in summary form, at the time of its application for a certificate of authority, all of the following:

(a) The identity of the initial members of the risk retention group.

(b) The identity of those individuals who organized the risk retention group or who will provide administrative services or otherwise influence or control the activities of the group.

(c) The amount and nature of initial capitalization.

(d) The coverages to be afforded.

(e) The states in which the risk retention group intends to operate.

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

Compiler's Notes: Former MCL 500.1805, which provided a penalty for fire insurance with unauthorized insurer, was repealed by Act 341 of 1980, Eff. June 23, 1981.
Popular Name: Act 218

Section: Previous  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