500.4623 Sponsored captive insurance company; discount of reserves.
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/mi/chapter-500/500-4623A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
500.4623 Sponsored captive insurance company; discount of reserves.
Sec. 4623.
(1)A sponsored captive insurance company may discount its loss and loss adjustment expense reserves at the lesser of treasury rates or the captive insurance company's actual rate of return applied to the applicable payments projected through the use of the expected payment pattern associated with the reserves.
(2)The commissioner may disallow the discounting of reserves if a sponsored captive insurance company violates a provision of this act.
History: Add. 2008, Act 29 , Imd. Eff. Mar. 13, 2008
Popular Name: Act 218