2024 House Bill 6106

Insurance: other; captive insurance company reports and inquiries; modify.

A bill to amend 1956 PA 218, entitled “The insurance code of 1956,” by amending sections 4621 and 4625 (MCL 500.4621 and 500.4625), section 4621 as amended by 2018 PA 397 and section 4625 as added by 2008 PA 29.

Official record

AI Analysis – Experimental

The bill revises the reporting, compliance, and fee requirements for captive insurance companies, introduces penalties for non-compliance, and modifies existing laws to streamline regulatory oversight.

Introduced in the House

Nov. 13, 2024

Introduced by Rep. Mai Xiong (D-13) 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 95 to 14 (details)

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

The motion prevailed by voice vote