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MICHIGAN STATUTES AND CODES
Section 500.1805 - Risk retention group chartered in state; summary form of required information.
Act 218 of 1956
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Compiler's Notes: Former MCL 500.1805, which provided a penalty for fire insurance with unauthorized insurer, was repealed by Act 341 of 1980, Eff.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