{"data":{"id":"us-mi/mich.-comp.-laws-500.1765","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.1765","heading":"Failure to file corporate governance annual disclosure; civil fine; waiver.","body":"Sec. 1765.\n\n(1) An insurer or insurance group that does not, without just cause, timely file the CGAD as required in this chapter, after written notice and hearing, shall pay a civil fine of $1,000.00 for each day's delay, to be recovered by the director and paid into the general fund of this state. The maximum civil fine under this section is $75,000.00. The director may reduce or waive the penalty if the insurer demonstrates to the director that either of the following applies:\n\n(a) The penalty would cause a financial hardship to the insurer.\n\n(b) There is just cause for the delayed filing.\n\n(2) On written request, the director may grant a 90-day extension for filing the CGAD.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-1765","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"bee7c1de36cea21b9c023eefc66a336e6913d7ed48a4d035a7d192306e7573ac","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.1763","next":"us-mi/mich.-comp.-laws-500.1767"},"notice":"GroundRules: Original legal text. Not legal advice."}