MI HB4668

Requires retail liquor licensees to file proof of financial responsibility with the commission before license renewal or approval, with minimum security of $50,000.

Acceptable forms of proof include cash, securities, liquor liability insurance policies, surety bonds, or membership in authorized group self-insurance pools.

Prohibits insurance companies and sureties from being named as defendants in liability actions against insured licensees and protects their liability from the insured's bankruptcy.

Requires retail licensees to provide 30 days' written notice to the commission before canceling liquor liability insurance and mandates new proof of financial responsibility be delivered before the 30-day period expires; violation results in license revocation.

Exempts special licensees from these financial responsibility requirements and becomes effective August 1, 2016, contingent on enactment of House Bill 4667.