Insurance: other; definitions in the insurance code of 1956; revise. Amends sec. 4601 of 1956 PA 218 (MCL 500.4601).

Summary

The bill amends MCL 500.4601 to revise and add a series of definitions related to captive insurance, such as affiliated companies, alien captives, association captives, branch captives, control, and industrial insureds. These changes affect insurers, captive insurers, parent corporations, and other entities that operate or are regulated under the captive insurance framework. Clarifying these terms helps ensure consistent regulatory oversight and compliance.

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