MI HB6104

Replaces all references to "commissioner" with "director" throughout the captive insurance company provisions of the Insurance Code.

Removes the requirement that captive insurance companies hold at least one board of directors meeting annually in Michigan.

Adds "first-dollar" to the list of insurance types that captive insurance companies are prohibited from writing.

Reduces the application fee for a limited certificate of authority from $10,000 to $5,000 and establishes a $2,700 fee for internal departmental examination.

Changes the certificate of authority renewal timing from March 1 annually to 90 days after the fiscal year ends, and makes renewal mandatory upon receipt of required fees if the company remains in good standing.