{"data":{"id":"us-mi/mich.-comp.-laws-500.6434","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 500.6434","heading":"Contingency reserve; deposit.","body":"Sec. 6434.\n\nEvery domestic insurer subject to this chapter shall maintain a contingency reserve at all times at least equal to 1/10 of the total premium income for the preceding calendar year but not less than $5,000.00 for each kind of insurance enumerated in section 6406 which the insurer undertakes to issue and shall maintain a deposit with the state treasurer, of the kind and amount and for the purposes specified in section 411.","path":["MI Code","Chapter 500","Act Act-218-of-1956"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-500-6434","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"bd347571e7d0779a9a7a7826bebf618385c9215b82963f226133b97185a7179f","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-500.6432","next":"us-mi/mich.-comp.-laws-500.6436"},"notice":"GroundRules: Original legal text. Not legal advice."}