500.1807 Risk retention group chartered in state; plan of operation or feasibility study. Sec. 1807. Before it may offer insurance in this state, a risk retention group chartered in this state shall submit to the commissioner for approval a plan of operation or feasibility study and, within 10 days of a change, shall submit an appropriate revision if a subsequent material change in an item of the plan of operation or feasibility study occurs. The risk retention group shall not offer any additional kinds of liability insurance until a revision of the plan of operation or feasibility study is approved by the commissioner. History: Add. 1989, Act 214, Eff. Jan. 1, 1990 Popular Name: Act 218
Michigan Legal Code