Michigan § 500.1011 - Audited consolidated or combined financial statements; application for filing; work sheet.
Full text of Michigan Michigan Compiled Laws § 500.1011 — Audited consolidated or combined financial statements; application for filing; work sheet., with citation guidance and answers to common questions.
§ 500.1011. Audited consolidated or combined financial statements; application for filing; work sheet.
An insurer may make written application to the commissioner for approval to file audited consolidated or combined financial statements in lieu of separate annual audited financial statements if the insurer is part of a group of affiliates that uses a pooling or 100% reinsurance agreement that affects the solvency and integrity of the insurer's reserves and the insurer cedes all of its direct and assumed business to the pool. If approval is given, a columnar consolidating or combining work sheet shall be filed with the report, as follows:
Amounts shown on the consolidated or combined audited financial report shall be shown on the work sheet.
Amounts for each insurer subject to this section shall be stated separately.
Noninsurance operations may be shown on the work sheet on a combined or individual basis.
Explanations of consolidating and eliminating entries shall be included.
Any differences between the amounts shown in the individual insurer columns of the work sheet and comparable amounts shown on the annual statements of the insurers shall be reconciled.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 500.1011
What does Michigan Compiled Laws § 500.1011 cover?
Section 500.1011 ("Audited consolidated or combined financial statements; application for filing; work sheet.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 500.1011?
A common citation format is "Michigan Compiled Laws § 500.1011" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 500.1011 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.