{"data":{"id":"us-mi/mich.-comp.-laws-500.4623","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.4623","heading":"Sponsored captive insurance company; discount of reserves.","body":"Sec. 4623.\n\n(1) A sponsored captive insurance company may discount its loss and loss adjustment expense reserves at the lesser of treasury rates or the captive insurance company's actual rate of return applied to the applicable payments projected through the use of the expected payment pattern associated with the reserves.\n\n(2) The commissioner may disallow the discounting of reserves if a sponsored captive insurance company violates a provision of this act.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-4623","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"ac6f265830a30a9cfb4166a0bd8e2d9e2603d6e51a4bfe9325b2f35012896c56","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.4621","next":"us-mi/mich.-comp.-laws-500.4625"},"notice":"GroundRules: Original legal text. Not legal advice."}