reglab/housing_qa huggingface dataset:
MI Comp L § 550.607 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.607 - Term; Refund on Termination Prior to Expiration.

550.607 Term; refund on termination prior to expiration. Sec. 7.  The term of any credit life insurance or credit accident and health insurance shall commence, subject to acceptance by the insurer, on the date when the debtor becomes obligated to the creditor, except that, where a group policy provides coverage with respect to existing obligations, the insurance on a debtor with respect to such indebtedness shall commence on the effective date of the policy. The term of such insurance shall not extend more than 15 days beyond the scheduled maturity date of the indebtedness except when extended without additional cost to the debtor. If the indebtedness is discharged due to renewal or refinancing prior to the scheduled maturity date, the insurance in force shall be terminated before any new insurance may be issued in connection with the renewed or refinanced indebtedness. In all cases of termination prior to scheduled maturity, a refund shall be paid or credited as provided in section 18. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.608 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.608 - Evidence of Insurance; Policy or Certificate Delivery.

550.608 Evidence of insurance; policy or certificate delivery. Sec. 8.  All credit life insurance and credit accident and health insurance sold shall be evidenced by an individual policy, or in the case of group insurance by a certificate of insurance, which individual policy or group certificate of insurance shall be delivered to the debtor. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.609 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.609 - Policy or Certificate; Contents.

550.609 Policy or certificate; contents. Sec. 9.  Each individual policy or group certificate of credit life insurance, and credit accident and health insurance in addition to other requirements of law, shall set forth the name and home office address of the insurer, and the identity by name or otherwise of the person or persons insured, the amount of payment separately in connection with credit life insurance and credit accident and health insurance if an identifiable charge is made to the debtor, a description of the coverage including any exceptions, limitations or restrictions, and shall state that the benefits shall be paid to the creditor to reduce or extinguish the unpaid indebtedness and, wherever the amount of insurance may exceed the unpaid indebtedness, that any such excess shall be payable to a beneficiary, other than the creditor, named by the debtor or to his estate. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.610 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.610 - Policy or Certificate; Delivery to Debtor.

550.610 Policy or certificate; delivery to debtor. Sec. 10.  The individual policy or group certificate of insurance shall be delivered to the insured debtor at the time the indebtedness is incurred except as hereinafter provided. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.611 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.611 - Policy or Certificate; Application, Contents.

550.611 Policy or certificate; application, contents. Sec. 11.  If the individual policy or group certificate of insurance is not delivered to the debtor at the time the indebtedness is incurred, a copy of the application for such policy or a notice of proposed insurance, signed by the debtor and setting forth the name and home office address of the insurer, the name or names of the debtor, the rate of premium, or at the option of the creditor or debtor, the amount of payment separately in connection with credit life insurance and credit accident and health insurance coverage, and a brief description of the coverage provided, shall be delivered to the debtor at the time such indebtedness is incurred. The copy of the application for, or notice of proposed insurance shall refer exclusively to insurance coverage, and shall be separate and apart from the loan, sale or other credit statement of account, instrument or agreement unless the information required by this section is set forth therein. Upon acceptance of the insurance and within 30 days of the date upon which the indebtedness is incurred, the insurer shall cause the individual policy or group certificate of insurance to be delivered to the debtor. Said application or notice of proposed insurance shall state that, upon acceptance by the insurer, the insurance shall become effective as of the date the indebtedness is incurred. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.612 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.612 - Papers Filed With Commissioner of Issuing State.

550.612 Papers filed with commissioner of issuing state. Sec. 12.  All policies, certificates of insurance, notices of proposed insurance, applications for insurance, binder, endorsements and riders shall be filed with the commissioner of the state in which the policy is issued. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.613 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.613 - Papers Filed With Commissioner of Issuing State; Disapproval.

550.613 Papers filed with commissioner of issuing state; disapproval. Sec. 13.  The commissioner within 30 days after the filing of all policies, certificates of insurance, notices of proposed insurance, applications for insurance, binders, endorsements and riders, in addition to other requirements of law, may disapprove any such form if the benefits provided therein are not reasonable in relation to the premium charge or if it contains provisions which are unjust, unfair, inequitable, misleading, deceptive or encourage misrepresentation of such policy. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.614 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.614 - Papers Filed With Commissioner of Issuing State; Use, Hearing, Prior Written Approval.

550.614 Papers filed with commissioner of issuing state; use, hearing, prior written approval. Sec. 14.  If the commissioner notifies the insurer that the form does not comply with this subsection, it is unlawful thereafter for such insurer to issue or use such form. In such notice, the commissioner shall specify the reason for his disapproval and state that a hearing will be granted within 20 days after request in writing by the insurer. No such policy, certificate of insurance, notice of proposed insurance, nor any application, binder, endorsement or rider, shall be issued or used until the expiration of 30 days after it has been so filed, unless the commissioner shall give his prior written approval thereto. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.615 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.615 - Papers Filed With Commissioner of Issuing State; Withdrawal of Approval.

550.615 Papers filed with commissioner of issuing state; withdrawal of approval. Sec. 15.  The commissioner, at any time after a hearing, of not less than 20 days written notice to the insurer, may withdraw his approval of any such form on any of such grounds. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.616 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.616 - Papers Filed With Commissioner of Issuing State; Use After Withdrawal of Approval.

550.616 Papers filed with commissioner of issuing state; use after withdrawal of approval. Sec. 16.  It is not lawful for the insurer to issue such forms or use them after the effective date of such withdrawal of approval. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.617 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.617 - Papers Filed With Commissioner of Issuing State; Judicial Review.

550.617 Papers filed with commissioner of issuing state; judicial review. Sec. 17.  Any order or final determination of the commissioner under the provisions of this section shall be subject to judicial review. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.618 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.618 - Schedule of Premium Rates; Refunds; Nonissuance Credit.

550.618 Schedule of premium rates; refunds; nonissuance credit. Sec. 18.  Each insurer issuing credit life insurance or credit accident and health insurance shall file with the commissioner its schedules of premium rates for use in connection with such insurance. Any insurer may revise such schedules from time to time, and shall file such revised schedules with the commissioner. No insurer shall issue any credit life insurance policy or credit accident and health insurance policy for which the premium rate exceeds that determined by the schedules of such insurer as then on file with the commissioner. The commissioner may require the filing of the schedule of premium rates for use in connection with and as a part of the specific policy filings as provided by sections 12 to 17. Each individual policy, group certificate or notice of proposed insurance of credit life insurance and credit accident and health insurance shall provide that in the event of termination of the insurance prior to the scheduled maturity date of the indebtedness, any refund of premium due shall be paid or credited promptly to the person entitled thereto: Provided, however, That the commissioner shall prescribe a minimum refund and no refund which would be less than such minimum need be made. The formula to be used in computing such refund shall be filed with the commissioner. If a creditor requires a debtor to make a payment in connection with credit life insurance and credit accident and health insurance and an individual policy or group certificate of insurance is not issued, the creditor shall immediately give written notice to such debtor and shall promptly make an appropriate credit to the account. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.619 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.619 - Policies Issuable Only by Authorized Insurers.

550.619 Policies issuable only by authorized insurers. Sec. 19.  All policies of credit life insurance and credit accident and health insurance shall be delivered or issued for delivery in this state only by an insurer authorized to do an insurance business therein, and shall be issued only through holders of licenses or authorizations issued by the commissioner. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.620 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.620 - Payment of Claims; Claim Files; Group Insurance Claims.

550.620 Payment of claims; claim files; group insurance claims. Sec. 20.  All claims shall be promptly reported to the insurer or its designated claim representative, and the insurer shall maintain adequate claim files. All claims shall be settled as soon as possible and in accordance with the terms of the insurance contract. All claims shall be paid either by draft drawn upon the insurer or by check of the insurer to the order of the claimant to whom payment of the claim is due pursuant to the policy provisions, or upon direction of such claimant to one specified. No plan or arrangement shall be used whereby any person, firm or corporation other than the insurer or its designated claim representative shall be authorized to settle or adjust claims. The creditor shall not be designated as claim representative for the insurer in adjusting claims; but a group policyholder, by arrangement with the group insurer, may draw drafts or checks in payment of claims due to the group policyholder subject to audit and review by the insurer. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.621 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.621 - Procurement of Insurance by Debtor.

550.621 Procurement of insurance by debtor. Sec. 21.  When credit life insurance or credit accident and health insurance is required as additional security for any indebtedness, the debtor, upon request to the creditor, shall have the option of furnishing the required amount of insurance through existing policies of insurance owned or controlled by him or of procuring and furnishing the required coverage through any insurer authorized to transact an insurance business within this state. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.622 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.622 - Rules; Violation, Notice of Hearing, Finding, Order.

550.622 Rules; violation, notice of hearing, finding, order. Sec. 22.  The commissioner, after notice and hearing, may issue such rules and regulations in accordance with Act No. 88 of the Public Acts of 1943, as amended, being sections 24.71 to 24.82 of the Compiled Laws of 1948, and subject to Act No. 197 of the Public Acts of 1952, as amended, being sections 24.101 to 24.110 of the Compiled Laws of 1948, as he deems appropriate for the supervision of this act. Whenever the commissioner finds that there has been a violation of this act or any rules or regulations issued pursuant thereto, and after written notice thereof and hearing given to the insurer or other person authorized or licensed by the commissioner, he shall set forth the details of his findings together with an order for compliance by a specified date. The order shall be binding on the insurer and other person authorized or licensed by the commissioner on the date specified unless sooner withdrawn by the commissioner or a stay thereof has been ordered by a court of competent jurisdiction. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.Admin Rule: R 500.2031 et seq. of the Michigan Administrative Code.
MI Comp L § 550.623 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.623 - Violation; Penalty; License or Authority, Suspension or Revocation.

550.623 Violation; penalty; license or authority, suspension or revocation. Sec. 23.  In addition to any other penalty provided by law, any person who violates an order of the commissioner after it has become final, and while such order is in effect, shall, upon proof thereof to the satisfaction of the court, forfeit and pay to the state a sum not to exceed the $250.00 which may be recovered in a civil action, except that if such violation is found to be willful, the amount of such penalty shall be a sum not to exceed the $1,000.00. The commissioner, in his discretion, may revoke or suspend the license or certificate of authority of the person guilty of such violation. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.624 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 173 of 1958 - Credit Insurance Act (550.601 - 550.624)|Section 550.624 - Effect of Act; Scope of Act.

550.624 Effect of act; scope of act. Sec. 24.  This act shall not alter or amend any provision of Act No. 21 of the Public Acts of 1939, as amended, being sections 493.1 to 493.26 of the Compiled Laws of 1948, or permit any premium, contribution or other charge to be collected for credit life or health and accident insurance in connection with loans made by licensees under said act: Provided, however, That if section 13 of said Act No. 21 of the Public Acts of 1939, as amended, is amended to permit licensees to collect premiums from borrowers for credit life insurance or credit health and accident insurance in addition to the maximum rate of charge authorized by said section 13, this act shall apply to licensees as provided by such amendment to section 13. History: 1958, Act 173, Eff. Sept. 13, 1958 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 550.702, 550.703 (2021)
2021 Michigan Compiled Laws|Chapter 550 - General Insurance Laws|Act 388 of 1913 - State Insurance (550.701 - 550.711)|Section 550.702, 550.703 - Repealed. 1965, Act 365, Imd. Eff. July 23, 1965.

550.702, 550.703 Repealed. 1965, Act 365, Imd. Eff. July 23, 1965. Compiler's Notes: The repealed sections provided for state insurance fund and for investment of moneys therein.