{"data":{"id":"us-mi/mich.-comp.-laws-500.3553","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.3553","heading":"Certificate of authority; deposit requirements.","body":"Sec. 3553.\n\n(1) To obtain or maintain a certificate of authority in this state, a health maintenance organization shall possess and maintain a deposit in an amount determined adequate by the director to continue to comply with section 403 but not less than $100,000.00 plus 5% of annual subscription revenue up to a $1,000,000.00 maximum deposit.\n\n(2) A health maintenance organization shall make the deposit required under subsection (1) with the state treasurer or with a federal or state chartered financial institution under a trust indenture acceptable to the director for the sole benefit of the subscribers and enrollees in case of insolvency.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-3553","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"5ac7a0ceaeaf69a449f10a22ccd4fc367f169974d9ce2647d4c0f146c8e55d93","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.3551","next":"us-mi/mich.-comp.-laws-500.3555"},"notice":"GroundRules: Original legal text. Not legal advice."}