2024 House Bill 6099

Insurance: other; sponsor of sponsored captive insurance company; modify.

A bill to amend 1956 PA 218, entitled “The insurance code of 1956,” by amending section 4665 (MCL 500.4665), as added by 2008 PA 29.

Official record

AI Analysis – Experimental

The bill amends the insurance code to broaden the criteria for sponsors of sponsored captive insurance companies, allowing approval by the director based on specific qualifications, and prohibits risk retention groups from participating, while removing previous business requirements.

Introduced in the House

Nov. 13, 2024

Introduced by Rep. Penelope Tsernoglou (D-75) and 13 co-sponsors

Co-sponsored by Reps. Brenda Carter (D-53), Stephanie Young (D-16), Laurie Pohutsky (D-17), Mike McFall (D-8), Amos O’Neal (D-94), Tyrone Carter (D-1), Cynthia Neeley (D-70), Jason Morgan (D-23), Emily Dievendorf (D-77), Donavan McKinney (D-14), John Fitzgerald (D-83), Felicia Brabec (D-33) and Helena Scott (D-7)

Referred to the Committee on Insurance and Financial Services

Dec. 5, 2024

Reported without amendment

Dec. 12, 2024

Passed in the House 96 to 12 (details)

Motion to give immediate effect by Rep. Abraham Aiyash (D-9)

The motion prevailed by voice vote