Michigan Administrative Code
Department - Insurance and Financial Services
Insurance
Captive Insurance Company Rules
Section R. 500.108 - Duty to disclose changes in information
Universal Citation: MI Admin Code R. 500.108
Current through Vol. 24-04, March 15, 2024
Rule 8. The holder of a limited certificate of authority has an ongoing duty to promptly disclose any material changes in information to the director as soon as the holder of the limited certificate of authority becomes aware of the change. The holder of a limited certificate of authority shall submit to the director for review and approval before implementation of the following:
(a) Any material modifications to the captives plan of operation.
(b) Any proposed new special purpose securitization proposed by a special purpose financial captive.
(c) Any new protected cell programs.
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