Sec. 451. Any unauthorized insurer transacting insurance in this state shall be subject to a tax of 2% of premiums written in this state and to an additional regulatory fee of 0.5% on premiums written in this state. The tax required by this section shall be considered delinquent if not paid within 30 days after a copy of the computation of the tax by the commissioner is delivered to the insurer in the manner prescribed by law for the service of process.
Mich. Comp. Laws § 500.451
Taxes on unauthorized insurers; regulatory fee; payment; delinquency
Applied in 1 court decision — leading case 174 F. Supp. 2d 619 - Attorneys' Liability Assurance Society, Inc. v. Fitzgerald (2001)
Most recently applied in 174 F. Supp. 2d 619 - Attorneys' Liability Assurance Society, Inc. v. Fitzgerald (November 2001)
Add. 1967, Act 111, Eff
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.