Mich. Comp. Laws § 500.1326

Current through Public Act 171 of the 2024 Legislative Session
Section 500.1326 - Registration statement; nonmaterial information not disclosed
(1) Information does not need to be disclosed on a registration statement filed under section 1325 if the information is not material for the purposes of sections 1324 to 1325a and 1327 to 1343.
(2) Unless the director by rule or order provides otherwise, a sale, purchase, exchange, loan, extension of credit, or investment involving 1/2 of 1% or less of an insurer's admitted assets on the preceding December 31 is not material for purposes of sections 1324 to 1325a and 1327 to 1343.
(3) A sale, purchase, exchange, loan, extension of credit, or investment involving 1/2 of 1% or less of an insurer's admitted assets on the preceding December 31 is not material for purposes of an annual group capital calculation under section 1325b or an NAIC liquidity stress test under section 1325c.

MCL 500.1326

Amended by 2022, Act 259,s 1, eff. 3/29/2023.
Add. 1970, Act 136, Imd. Eff. 7/29/1970.