Mich. Admin. Code R. 500.107

Current through Vol. 24-22, December 15, 2024

Section R. 500.107 - Scope of approval of certificate of authority

Rule 7. If the director approves a captive insurance company limited certificate of authority application, the approval is only for the applicants 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.

Mich. Admin. Code R. 500.107

2015 MR 12, Eff. June 25, 2015