Section R. 500.101 - DefinitionsRule 1. As used in these rules:
(a) "Act" means the insurance code of 1956, 1956 PA 218, MCL 500.100 to 500.8302.(b) "Captive insurance company" means a captive insurance company as defined in section 4601 of the act, a special purpose financial captive as defined in section 4701 of the act, or a protected cell company as defined in section 4801 of the act.(c) "Captive manager" means any person entering into a contract with a captive insurance company, or the parent or affiliate of a captive insurance company, for the purpose of managing the operations of the captive insurance company.(d) "Director" means the director of the department of insurance and financial services unless otherwise noted.(e) "Limited certificate of authority" means a limited certificate of authority issued by the director pursuant to chapter 46 or 47 of the act, MCL 500.4601 to 500.4673, MCL 500.4701 to 500.4747.(f) "Person" means an individual, corporation, limited liability company, association, partnership, limited partnership, limited liability partnership, trust, business trust, entity, unincorporated organization, joint venture, or other legal or commercial entity.(g) Terms defined in the insurance code of 1956, 1956 PA 218, MCL 500.100 to MCL 500.8302, have the same meanings when used in these rules.Mich. Admin. Code R. 500.101
2015 MR 12, Eff. June 25, 2015