Section R. 460.19217 - Empirical financial dataRule 1217.
(1) All empirical financial data or schedules describing the financial condition of a motor carrier or carriers of household goods shall reflect the most current financial data or schedules available. Empirical data are data based upon observation or experience as opposed to data derived from theory. As used in this rule, "current financial data" includes all revenues and expenses realized within a 12-month period before the date of filing, or within any other reasonable period of time deemed appropriate by the department.(2) Information taken from all financial schedules and reports used in the calculation of financial ratios shall be taken from a common closing date for the accumulation of that information.Mich. Admin. Code R. 460.19217
1984 AACS; 1988 AACS; 2018 MR 24, Eff. 12/20/2018