Mich. Comp. Laws § 500.815a
Establishment of contingency reserve by mortgage guaranty insurer.
Michigan · Michigan Compiled Laws — THE INSURANCE CODE OF 1956 (Act 218 of 1956) · Status: effective
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- Citation
- Mich. Comp. Laws § 500.815a, Establishment of contingency reserve by mortgage guaranty insurer, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1367289
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Full text
In addition to the capital, surplus and reserves specified in sections 410, 810 and 815, a mortgage guaranty insurer shall establish a contingency reserve, which shall be reported as a liability in the insurer's financial statements. The amount of the reserve shall be computed in accordance with rules prescribed by the commissioner.