500.1803 Risk retention group chartered in state; certificate of authority; license; compliance. Sec. 1803. (1) To be chartered in this state, a risk retention group shall obtain a certificate of authority from the commissioner and be licensed as a domestic stock or mutual casualty insurer. (2) Except as otherwise provided in this chapter, a risk retention group chartered in this state shall comply with all statutes, rules, regulations, and requirements applicable to domestic stock or mutual casualty insurers. (3) A certificate of authority issued to a risk retention group chartered in this state shall be limited to the business of insurance for liability. History: Add. 1989, Act 214, Eff. Jan. 1, 1990 Popular Name: Act 218
Michigan Legal Code