{"data":{"id":"us-mi/mich.-comp.-laws-500.1011","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.1011","heading":"Audited consolidated or combined financial statements; application for filing; work sheet.","body":"Sec. 1011.\n\nAn insurer may make written application to the commissioner for approval to file audited consolidated or combined financial statements in lieu of separate annual audited financial statements if the insurer is part of a group of affiliates that uses a pooling or 100% reinsurance agreement that affects the solvency and integrity of the insurer's reserves and the insurer cedes all of its direct and assumed business to the pool. If approval is given, a columnar consolidating or combining work sheet shall be filed with the report, as follows:\n\nAmounts shown on the consolidated or combined audited financial report shall be shown on the work sheet.\n\nAmounts for each insurer subject to this section shall be stated separately.\n\nNoninsurance operations may be shown on the work sheet on a combined or individual basis.\n\nExplanations of consolidating and eliminating entries shall be included.\n\nAny differences between the amounts shown in the individual insurer columns of the work sheet and comparable amounts shown on the annual statements of the insurers shall be reconciled.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-1011","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"756ba8f748ee299f4c2692c7f99a7e79b80f03131edcea6fb5abc28932e2c6e1","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.1010","next":"us-mi/mich.-comp.-laws-500.1015"},"notice":"GroundRules: Original legal text. Not legal advice."}