Michigan Laws 500.1827 – Purchasing group and insurer thereof; registration fee; statement of registration; applicability of subsection (1); information to be furnished
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(1) The purchasing group and any insurer of the purchasing group which has not submitted a registration fee shall submit a $25.00 registration fee and, on a form prescribed by the commissioner, a statement of registration which designates the commissioner as its agent for the purpose of receiving service of legal documents or process.
(2) Subsection (1) shall not apply to a purchasing group which meets all of the following:
Terms Used In Michigan Laws 500.1827
- Commissioner: means the director. See Michigan Laws 500.102
- Insurer: means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. See Michigan Laws 500.106
- Liability: means legal liability for damages including costs of defense, legal costs and fees, and other claims expenses because of personal injuries, property damage, or other damage or loss, to another person resulting from or arising out of a profit or nonprofit business, trade, product, service, including professional service, a premises or operation, or an activity of a state or local government or an agency or political subdivision of a state or local government. See Michigan Laws 500.1801
- Purchasing group: means a group which meets all of the following:
(i) Has as 1 of its purposes the purchase of liability insurance on a group basis. See Michigan Laws 500.1801shall not apply: means that the pertinent provision is not operative as to certain persons or things or in conjunction with a particular date or dates. See Michigan Laws 8.4c State: means any state of the United States or the District of Columbia. See Michigan Laws 500.1801
(a) Was a purchasing group under the requirements of the liability risk retention act of 1986 before October 27, 1986.
(b) Only purchases insurance that was authorized under the liability risk retention act of 1986 before October 27, 1986.
(c) Was domiciled in a state before April 1, 1986 and is domiciled in a state on and after September 25, 1981.
(d) Before September 25, 1981 purchased insurance from an insurance carrier licensed in a state and since September 25, 1981, purchased its insurance from an insurance carrier licensed in a state.
(3) A purchasing group under subsection (1) shall furnish information as requested by the commissioner that does all of the following:
(a) Verifies that the entity qualifies as a purchasing group.
(b) Determines where the purchasing group members are located.
(c) Determines appropriate tax treatment.
(4) A purchasing group which was doing business in this state prior to January 1, 1990 shall provide the information required by section 1825 to the commissioner by February 1, 1990.