reglab/housing_qa huggingface dataset:
MI Comp L § 500.1911 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1911 - Issuing Evidence of Placement of Insurance With Eligible Unauthorized Insurer; Conditions; Identification of Entities Directly Assuming Risk of Loss; Specifying Obligation as Joint or Several; Specifying Proportion of Obligation Assumed.

500.1911 Issuing evidence of placement of insurance with eligible unauthorized insurer; conditions; identification of entities directly assuming risk of loss; specifying obligation as joint or several; specifying proportion of obligation assumed. Sec. 1911.  (1) Only a licensee shall issue evidence of placement of insurance with an eligible unauthorized insurer. A licensee shall not issue that evidence, cause or purport to cause any risk to be insured by an eligible unauthorized insurer, or advise any insured or applicant for insurance or the representative of the insured or applicant that insurance has been or will be obtained from an eligible unauthorized insurer unless at least 1 of the following conditions is met:  (a) The licensee has prior written authority from the eligible unauthorized insurer to cause the risk to be insured.  (b) The licensee has received a written or oral communication in the ordinary course of business that the coverage has been obtained.  (c) A policy of insurance covering the insured for the risk has actually been issued by the eligible unauthorized insurer and has been delivered to the insured or the insured's representative.  (2) A prior written authority, a communication showing that insurance has been obtained, or a policy of insurance prescribed in subsection (1) shall identify entities directly assuming any risk of loss. If there is more than 1 insurer, any document issued or certified by the licensee pursuant to section 1912 shall specify whether the obligation is joint or several, and if the obligation is several, the proportion of the obligation assumed by those insurers, if known. History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1912 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1912 - Delivery of Written Evidence of Insurance to Insured or Insured's Representative; Time; Conditions.

500.1912 Delivery of written evidence of insurance to insured or insured's representative; time; conditions. Sec. 1912.  If the surplus lines licensee acts in reliance on prior written authority from an eligible unauthorized insurer in accordance with section 1911(1)(a), or on a written or oral communication received in accordance with section 1911(1)(b), the licensee, within 30 days after the date on which the risk was bound or the insured or applicant was advised that coverage has been or will be obtained, shall deliver a policy, a written binder, a certificate, or other written evidence of the insurance, to the insured or the insured's representative. History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1913 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1913 - Separate Account of Each Transaction; Filing Certified Evidence of Transactions.

500.1913 Separate account of each transaction; filing certified evidence of transactions. Sec. 1913.  Each surplus lines licensee shall keep a separate account of each transaction entered into pursuant to section 1905. Certified evidence of these transactions in the form and manner prescribed by the commissioner shall be filed periodically with the commissioner, or if designated by the commissioner, with an association.  History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1915 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1915 - Charging Fees; Conditions; Excessive or Discriminatory Fee Prohibited; Documentation and Evidence of Disclosure of Fees; Exclusion of Fees in Computation of Premium Taxes.

500.1915 Charging fees; conditions; excessive or discriminatory fee prohibited; documentation and evidence of disclosure of fees; exclusion of fees in computation of premium taxes.Sec. 1915.  (1) A licensee may charge a fee as follows:  (a) For a surplus lines insurance policy, a fee in addition to a commission only if the fee is not included in the premium and the fee is reasonable to cover underwriting and other expenses that are unique to surplus lines.  (b) For a personal lines insurance policy, a fee not to exceed the greater of $100.00 or 10% of the personal lines insurance policy premium.  (2) All of the following apply to a fee charged under subsection (1):   (a) The fee must not be excessive or discriminatory. The licensee shall maintain complete documentation of all fees charged and evidence of the disclosure required under subdivision (b).  (b) The fee must be fully disclosed in detail to the insured, whether directly or through another licensed insurance producer, in writing before the sale. The fee must be separately itemized on any of the following:  (i) The policy declarations page.  (ii) The billing statement.  (iii) Other documentation provided to the purchaser setting forth the cost of the policy.  (c) The fee must not be included as a part of the policy premium in the computation of premium taxes. History: Add. 1980, Act 341, Eff. June 23, 1981 ;-- Am. 2006, Act 644, Imd. Eff. Jan. 5, 2007 ;-- Am. 2020, Act 62, Imd. Eff. Mar. 17, 2020 Popular Name: Act 218
MI Comp L § 500.1916 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1916 - Compensation of Licensee and Licensed Resident Agent; Collection of Premiums; Effect of Premium Payment Made to Agent.

500.1916 Compensation of licensee and licensed resident agent; collection of premiums; effect of premium payment made to agent. Sec. 1916.  A licensee may be compensated by an unauthorized insurer and the licensee may compensate a licensed resident agent in this state for obtaining surplus lines insurance business. The licensed resident agent authorized by the licensee may collect a premium on behalf of a surplus lines licensee and, as between the insured and the licensee, the licensee shall be considered to have received the premium if the premium payment has been made to the agent. History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1917 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1917 - Liability if Risk Assumed and Premium Received by Licensee.

500.1917 Liability if risk assumed and premium received by licensee. Sec. 1917.  If an unauthorized insurer has assumed a risk and if the premium for that risk has been received by the licensee who placed the insurance, then as between the insurer and the insured, the insurer shall be considered to have received the premium due to it for the coverage, and shall be liable to the insured for any loss covered by the insurance and for the unearned premium, upon cancellation of the insurance, regardless of whether the licensee is indebted to the insurer.  History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1921 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1921 - Recognition as Eligible Unauthorized Insurer; Deposit; Trust Fund, Marketable Securities, or Equivalent Instruments; Provisions Inapplicable to Certain Unincorporated, Alien Insurers; Commissioner as Resident Agent for Service of Process.

500.1921 Recognition as eligible unauthorized insurer; deposit; trust fund, marketable securities, or equivalent instruments; provisions inapplicable to certain unincorporated, alien insurers; commissioner as resident agent for service of process. Sec. 1921.  (1) In addition to other requirements of this chapter, to gain recognition as an eligible unauthorized insurer in this state, an unauthorized insurer shall deposit with this state in cash, marketable securities, or other comparable instruments, at least $75,000.00 solely for the benefit of policyholders and beneficiaries in this state, or shall maintain a trust fund in the United States in cash, marketable securities, or other substantially equivalent instruments of at least $1,000,000.00 with a United States bank which is a member of the federal reserve system or which is regulated by the financial institutions bureau, or which is on deposit with regulatory authorities in the state of domicile of the insurer for the benefit of all United States policyholders and beneficiaries. A trust fund required under this subsection shall not have an expiration date which is at any time less than 5 years in the future, on a continuing basis. If the commissioner considers it necessary to protect the interests of policyholders and beneficiaries in this state, he or she may require an additional deposit or a larger trust fund from an insurer.  (2) Subsection (1) and section 1920(4) shall not apply to unincorporated, individual alien insurers which, in place of the requirements prescribed in subsection (1) and section 1920(4), hold in trust for all policyholders and beneficiaries in the United States not less than $50,000,000.00, in the aggregate.  (3) Each eligible unauthorized insurer shall appoint the commissioner as its resident agent, for purposes of service of process. History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1922 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1922 - Notice on Face of Instrument Evidencing Surplus Lines Insurance.

500.1922 Notice on face of instrument evidencing surplus lines insurance. Sec. 1922.  Each policy, cover note, or other instrument evidencing surplus lines insurance which is to be delivered to an insured or a representative of an insured shall have printed, typed, or stamped in red ink upon its face, in not less than 10-point type, the following notice: "This insurance has been placed with an insurer that is not licensed by the state of Michigan. In case of insolvency, payment of claims may not be guaranteed." This notice shall not be covered over or concealed in any manner. History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1930 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1930 - Association of Licensees; Registration; Purposes; Required Filings by Association; Reasons for Refusal to Register Association; Reasons for Suspension or Revocation of Registration; Denial of Membership.

500.1930 Association of licensees; registration; purposes; required filings by association; reasons for refusal to register association; reasons for suspension or revocation of registration; denial of membership. Sec. 1930.  (1) Licensees may associate and the commissioner may register an association for 1 or more of the following purposes:  (a) Advising the commissioner as to the availability of surplus lines coverage and market practices and standards for surplus lines insurers and licensees.  (b) Collecting and furnishing records, statistics, and accounts.  (c) Submitting recommendations regarding administration of this chapter.  (2) Each association shall file with the commissioner, for approval, all of the following:  (a) A copy of the association's constitution and articles of agreement or association, or the association's certificate of incorporation and bylaws, and any rules or regulations governing the association's activities.  (b) An agreement that, as a condition of continued registration under subsection (1), the commissioner may examine the association.  (3) Each association shall file with the commissioner and keep current all of the following:  (a) A list of members.  (b) The name and address of a resident of this state upon whom notices or orders of the commissioner or process issued by the commissioner may be served.  (4) The commissioner may refuse to register, or may suspend or revoke the registration of, an association for any of the following reasons:  (a) It reasonably appears that the association will not be able to carry out the purposes of this chapter.  (b) The association fails to maintain and enforce rules which can reasonably be anticipated to assure that members of the association and persons associated with those members comply with this chapter, other applicable chapters of this code, and rules promulgated under either.  (c) The rules of the association do not assure a fair representation of its members in the selection of directors and in the administration of its affairs.  (d) The rules of the association do not provide for an equitable allocation of reasonable dues, fees, and other charges among members.  (e) The rules of the association impose a burden on competition not necessary or appropriate to the purposes of this chapter.  (f) The association fails to meet other applicable requirements prescribed in this chapter.  (5) An association shall deny membership to any person who is not a licensee. History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1932 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1932 - Servicing Facility; Establishment; Reimbursement for Expenses and Payments; Functions; Approval; Member Licensee as Servicing Facility.

500.1932 Servicing facility; establishment; reimbursement for expenses and payments; functions; approval; member licensee as servicing facility. Sec. 1932.  (1) In accordance with its bylaws, an association may establish an independent office as a servicing facility. Each servicing facility shall be reimbursed by the association for expenses incurred and for any payments made on behalf of the association. Each servicing facility may perform any of the functions of the association that officers of the association may lawfully delegate to it. In performing functions delegated to it, the facility shall act on behalf of, and in the name of, the association.  (2) Designation of servicing facilities shall be subject to the approval of a commissioner. A member licensee may serve as the servicing facility. History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1933 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1933 - Suits by or Against Association; Assertion or Defense of Rights.

500.1933 Suits by or against association; assertion or defense of rights. Sec. 1933.  An association, in its own name or through servicing facilities, may sue or be sued and may use the courts to assert or defend any rights the association may have by virtue of this chapter which are reasonably necessary to fully implement this chapter. History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1934 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1934 - Filing Certified Audit of Books, Records, and Trust Funds.

500.1934 Filing certified audit of books, records, and trust funds. Sec. 1934.  Each association shall file annually with the commissioner a certified audit of the books and records of the association and its trust funds. History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1940 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1940 - Reports and Recommendations Regarding Financial Condition of Eligible Unauthorized Insurer; Reports and Recommendations Not Considered Public Documents; Liability for Statements.

500.1940 Reports and recommendations regarding financial condition of eligible unauthorized insurer; reports and recommendations not considered public documents; liability for statements. Sec. 1940.  The association may submit reports and make recommendations to the commissioner regarding the financial condition of any eligible unauthorized insurer. These reports and recommendations shall not be considered to be public documents. There shall not be liability on the part of, and a cause of action of any nature shall not arise against, eligible unauthorized insurers, the association or its agents or employees, the directors, or the commissioner or authorized representatives of the commissioner, for statements made by them in any reports or recommendations made under this section. History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1946 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1946 - Repealed. 2000, Act 486, Imd. Eff. Jan. 11, 2001.

500.1946 Repealed. 2000, Act 486, Imd. Eff. Jan. 11, 2001. Compiler's Notes: The repealed section pertained to promulgation of rules regulating conduct of licensees.Popular Name: Act 218
MI Comp L § 500.1950 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1950 - Placement of Insurance With Insurer Which Is Neither an Authorized Insurer nor an Eligible Unauthorized Insurer; Duties of Licensee.

500.1950 Placement of insurance with insurer which is neither an authorized insurer nor an eligible unauthorized insurer; duties of licensee. Sec. 1950.  Notwithstanding section 1920(1), a resident of this state may obtain insurance from an unauthorized insurer in this state through a licensee under this chapter. Unless the resident insists that the insurance be placed with an unauthorized insurer which is not recognized by the commissioner as eligible, the licensee shall first attempt to place the insurance with authorized insurers or, if that is not possible, with eligible unauthorized insurers before placing the insurance with an unauthorized insurer not recognized as eligible, and shall certify to the commissioner on a form prescribed by the commissioner that these attempts were made. If the insurance is placed with an insurer which is neither an authorized insurer nor an eligible unauthorized insurer, upon obtaining coverage, the licensee shall do all of the following:  (a) Mail or deliver to the resident the following notice: "This insurance has been placed with an insurer not licensed by the state of Michigan nor recognized by the insurance commissioner as an eligible unauthorized insurer. In case of any dispute relative to the terms or conditions of the policy or the practices of the insurer, the insurance commissioner may not be able to assist in the dispute. In case of insolvency, payment of claims is not guaranteed." A copy of the notice shall be filed with the commissioner.  (b) Collect from the resident insured appropriate premium taxes and report the transaction to the commissioner on a form prescribed by the commissioner. If the resident insured fails to pay the taxes when due, the insured shall be subject to a civil fine of not more than $1,000.00, plus accrued interest from the inception of the insurance. History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1951 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1951 - Procuring, Continuing, or Renewing Insurance With Unauthorized Insurer; Report; Tax on Premiums; Regulatory Fee.

500.1951 Procuring, continuing, or renewing insurance with unauthorized insurer; report; tax on premiums; regulatory fee.  Sec. 1951.  An insured in this state who, on behalf of himself or herself, or an employee in this state who, on behalf of his or her employer, procures, causes to be procured, or continues or renews insurance with an unauthorized insurer, or a self-insurer in this state who procures or continues excess loss, catastrophe, or other insurance with an unauthorized insurer, upon a subject of insurance resident, located, or to be performed within this state, other than insurance procured pursuant to section 1905 or 1950, within 30 days after the date the insurance was procured, continued, or renewed, shall file a written report regarding the insurance with the commissioner on forms prescribed by the commissioner and furnished to the insured upon request. The report shall be accompanied by a 2% tax on premiums written and, instead of the costs and expenses that may be imposed by the commissioner pursuant to this chapter, a 0.5% regulatory fee on premiums written. The report shall show all of the following:  (a) The name and address of the insured or insureds.  (b) The name and address of the insurer.  (c) The subject of the insurance.  (d) A general description of the coverage.  (e) The amount of premium currently charged for the insurance.  (f) Any additional pertinent information, reasonably requested by the commissioner. History: Add. 1980, Act 341, Eff. June 23, 1981 ;-- Am. 1987, Act 261, Imd. Eff. Dec. 28, 1987 ;-- Am. 1989, Act 214, Eff. Jan. 1, 1990 ;-- Am. 1994, Act 228, Imd. Eff. June 30, 1994 Popular Name: Act 218
MI Comp L § 500.1952 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1952 - Violation as Misdemeanor; Penalty.

500.1952 Violation as misdemeanor; penalty.  Sec. 1952.  A person who knowingly and wilfully violates or aids or abets directly or indirectly in a violation of this chapter is guilty of a misdemeanor, punishable by imprisonment for not more than 1 year, or a fine of not more than $1,000.00, or both. History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.1955 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-19 - Chapter 19 (500.1901...500.1955)|Section 500.1955 - Rules Implementing Chapter; Declaratory Rulings.

500.1955 Rules implementing chapter; declaratory rulings. Sec. 1955.  The commissioner may promulgate rules to implement this chapter pursuant to Act No. 306 of the Public Acts of 1969, as amended. The commissioner may issue declaratory rulings regarding implementation of this chapter. History: Add. 1980, Act 341, Eff. June 23, 1981 Popular Name: Act 218
MI Comp L § 500.2001 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-20 - Chapter 20 Unfair and Prohibited Trade Practices and Frauds (500.2001...500.2093)|Section 500.2001 - Short Title.

500.2001 Short title. Sec. 2001.  Sections 2001 to 2050 shall be known and may be cited as "the uniform trade practices act". History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1976, Act 273, Eff. Apr. 1, 1977 Popular Name: Act 218