Mich. Admin. Code R. 500.107
Scope of approval of certificate of authority.
(By authority conferred on the director of the department of insurance and financial services by sections 210, 4651, 4747, and 4813 of 1956 PA 218, 1969 PA 306, E.O. 2013-1; MCL 500.210, MCL 500.4651, MCL 500.4747, MCL 500.4813, MCL 24.231 to MCL 24.233, MCL 550.991.)Insurance
If the director approves a captive insurance company limited certificate of authority application, the approval is only for the applicant’s qualification for the limited certificate of authority. The approval does not indicate or suggest that the director has considered, opined on, or approved any of the following:
- (a) The qualifications or application of the applicant for any other purpose.
- (b) Additional captive special purpose securitizations proposed by a special purpose financial captive.
- (c) Protected cells not authorized by the certificate of authority granted to the applicant.
History: 2015 AACS.