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Bill > HB6103
MI HB6103
MI HB6103Insurance: other; sponsored captive insurance companies; modify. Amends sec. 4667 of 1956 PA 218 (MCL 500.4667).
summary
Introduced
11/13/2024
11/13/2024
In Committee
12/18/2024
12/18/2024
Crossed Over
12/12/2024
12/12/2024
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
102nd Legislature
Bill Summary
A bill to amend 1956 PA 218, entitled"The insurance code of 1956,"by amending section 4667 (MCL 500.4667), as added by 2008 PA 29.
AI Summary
This bill amends Section 4667 of the Insurance Code of 1956 to modify the provisions regarding sponsored captive insurance companies. Specifically, it clarifies that participants in a sponsored captive insurance company do not need to be shareholders or affiliates of the company, and that participants can insure the risks of their affiliates or controlled unaffiliated businesses through the sponsored captive insurance company, with the approval of the Director of the Department of Insurance and Financial Services.
Committee Categories
Business and Industry, Government Affairs
Sponsors (15)
Brenda Carter (D)*,
Felicia Brabec (D),
Tyrone Carter (D),
Emily Dievendorf (D),
John Fitzgerald (D),
Mike McFall (D),
Donavan McKinney (D),
Reggie Miller (D),
Jason Morgan (D),
Cynthia Neeley (D),
Amos O'Neal (D),
Laurie Pohutsky (D),
Helena Scott (D),
Penelope Tsernoglou (D),
Stephanie Young (D),
Last Action
Referred To Committee On Government Operations (on 12/18/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.mi.gov/Bills/Bill?ObjectName=2024-HB-6103 |
| BillText | https://legislature.mi.gov/documents/2023-2024/billengrossed/House/htm/2024-HEBH-6103.htm |
| Fiscal Note/Analysis - House: Summary as Reported from Committee | https://legislature.mi.gov/documents/2023-2024/billanalysis/House/pdf/2023-HLA-6099-2ED3482B.pdf |
| Fiscal Note/Analysis - House: Revised Summary as Introduced | https://legislature.mi.gov/documents/2023-2024/billanalysis/House/pdf/2023-HLA-6099-890642C4.pdf |
| Fiscal Note/Analysis - House: Summary as Introduced | https://legislature.mi.gov/documents/2023-2024/billanalysis/House/pdf/2023-HLA-6099-78139596.pdf |
| BillText | https://legislature.mi.gov/documents/2023-2024/billintroduced/House/htm/2024-HIB-6103.htm |
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