Mich. Comp. Laws § 500.815a
Current through Public Act 148 of the 2024 Legislative Session
In addition to the capital, surplus and reserves specified in sections 410, 810 and 815, a mortgage guaranty insurer shall establish a contingency reserve, which shall be reported as a liability in the insurer's financial statements. The amount of the reserve shall be computed in accordance with rules prescribed by the commissioner.
MCL 500.815a