Section 500.4645 - Plan, pool, association, or guaranty or insolvency fund; joining, contributing to, or receiving benefit from prohibited.
THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956
500.4645 Plan, pool, association, or guaranty or insolvency fund; joining, contributing to, or receiving benefit from prohibited.
Sec. 4645.
A captive insurance company shall not join or contribute financially to a plan, pool, association, or guaranty or insolvency fund in this state. A captive insurance company, its insured, its parent, or any affiliated company or any member organization of its association, shall not receive a benefit from a plan, pool, association, or guaranty or insolvency fund for claims arising out of the operations of the captive insurance company.
History: Add. 2008, Act 29, Imd. Eff. Mar. 13, 2008
Popular Name: Act 218