2024 House Bill 6104

Insurance: other; captive insurance company limited certificate of authority; modify.

A bill to amend 1956 PA 218, entitled “The insurance code of 1956,” by amending section 4603 (MCL 500.4603), as added by 2008 PA 29.

Official record

AI Analysis – Experimental

The bill amends the Insurance Code to regulate captive insurance companies, detailing their operational requirements, reducing application fees, and providing a process for foreign companies to become domestic without reorganization.

Introduced in the House

Nov. 13, 2024

Introduced by Rep. Brenda Carter (D-53) and 14 co-sponsors

Co-sponsored by Reps. Reggie Miller (D-31), Penelope Tsernoglou (D-75), 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 13 (details)

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

The motion prevailed by voice vote

Received in the Senate

Dec. 18, 2024

Referred to the Committee on Government Operations