reglab/housing_qa huggingface dataset:
MI Comp L § 500.2860 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866)|Section 500.2860 - Contrary Provision Void.

500.2860 Contrary provision void. Sec. 2860.  Any provision of a fire insurance policy, which is contrary to the provisions of this chapter, shall be absolutely void, and an insurer issuing a fire insurance policy containing any such provision shall be liable to the insured under the policy in the same manner and to the same extent as if the provision were not contained in the policy. History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1962, Act 71, Eff. Mar. 28, 1963 ;-- Am. 1990, Act 305, Imd. Eff. Dec. 14, 1990 Popular Name: Act 218
MI Comp L § 500.2862 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866)|Section 500.2862 - Repealed. 1978, Act 219, Eff. Dec. 5, 1978.

500.2862 Repealed. 1978, Act 219, Eff. Dec. 5, 1978. Compiler's Notes: The repealed section pertained to termination of homeowner's policy.Popular Name: Act 218
MI Comp L § 500.2866 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866)|Section 500.2866 - Violation of Chapter; Forfeiture and Disposition of Fine; Revocation of Authority to Transact Business; Reinstatement.

500.2866 Violation of chapter; forfeiture and disposition of fine; revocation of authority to transact business; reinstatement.  Sec. 2866.  (1) Any person that, either as principal or agent, wilfully issues or causes to be issued, any policy or contract of fire insurance on property situated within this state, contrary to the provisions of this chapter, shall forfeit the sum of $1,500.00 for each policy or contract so issued. However, the maximum fine forfeited by a person under this subsection shall not exceed $10,000.00 in a 2-year period. A fine collected under this subsection shall be turned over to the state treasurer and credited to the general fund of the state.  (2) Any person violating the provisions of this chapter, upon notice and satisfactory proof of the violation being made to the commissioner, may have its authority to transact business in this state revoked for a period of not less than 90 days; and any person whose license to do business in this state is so revoked by the commissioner, shall not again be permitted to do business in this state until all penalties due under this chapter are paid, together with any expenses that may be due under the provisions of this chapter, to the commissioner.  History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1984, Act 7, Imd. Eff. Feb. 1, 1984 Popular Name: Act 218
MI Comp L § 500.2910 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2910 - Inspection of Property; Requests; Operation of Inspection Bureau.

500.2910 Inspection of property; requests; operation of inspection bureau. Sec. 2910.  (1) Any person having an insurable interest in real and tangible personal property at fixed locations shall be entitled upon request to an inspection of the property by representatives of the inspection bureau. Such request shall be upon forms approved by the commissioner.  (2) The plan of operation of the inspection bureau, the manner and scope of the inspection and the form of the inspection report shall be prescribed by the inspection bureau in written report subject to approval by the commissioner.  (3) A copy of the inspection report shall be made available to the applicant or his agent or the insurer upon request. History: Add. 1968, Act 262, Eff. Aug. 1, 1968 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.2912 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2912 - Issuing Insurance at Rate Requiring Consent Under MCL 500.2414 or 500.2614; Inspection; Sworn Statements; False Affidavits; Employing Services of Surplus Lines Agent; Forms of Sworn Statements; Descriptions of Rights.

500.2912 Issuing insurance at rate requiring consent under MCL 500.2414 or 500.2614; inspection; sworn statements; false affidavits; employing services of surplus lines agent; forms of sworn statements; descriptions of rights. Sec. 2912.  (1) A person shall not be issued a policy of home insurance at a rate requiring consent under section 2414 or 2614. A person shall not be issued basic property insurance coverage at a rate requiring consent under section 2414 or 2614 until an inspection has been made by the inspection bureau and the person has filed with the inspection bureau a sworn statement acknowledging his or her rights under this chapter and waiving those rights. The person's agent shall make a sworn statement that the person has been fully advised of his or her rights under this chapter and has been furnished a written description of those rights.  (2) A false affidavit by an agent is grounds for refusal, suspension, or revocation of license pursuant to section 1242.  (3) A person shall not employ the services of a surplus lines agent in obtaining basic property or home insurance until the person has filed with the commissioner a sworn statement acknowledging and waiving his or her rights under this chapter. The person's surplus lines agent shall make a sworn statement that the person has been fully advised of his or her rights under this chapter and has been furnished a written description of those rights.  (4) A false affidavit by a surplus lines agent constitutes grounds for refusal, suspension, or revocation of license pursuant to section 1242.  (5) The commissioner shall prescribe the forms of sworn statements and written descriptions of rights used in connection with this section. History: Add. 1968, Act 262, Eff. Aug. 1, 1968 ;-- Am. 1971, Act 74, Eff. Aug. 1, 1971 ;-- Am. 1972, Act 133, Eff. Mar. 30, 1973 ;-- Am. 1979, Act 145, Eff. Mar. 1, 1980 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.2921 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2921 - Board of Governors as Manager of Pool; Appointment, Election, Qualifications, and Term of Members; Time of Election; Allotment of Votes; Increasing Number of Governors; Vacancy.

500.2921 Board of governors as manager of pool; appointment, election, qualifications, and term of members; time of election; allotment of votes; increasing number of governors; vacancy.  Sec. 2921.  (1) The pool shall be managed by a board, composed of 13 governors, each of whom shall serve for a term of 1 year. Four governors shall be appointed by the commissioner, 2 of whom shall be representative of insurance agents and 2 of whom shall be representative of the general public. Nine governors shall be elected by the participating members of the pool. The election shall be held within 60 days after the annual determination of aggregate assessable premiums for members of the pool. Each participating member shall be allotted votes equal to the number of whole dollars of aggregate assessable premiums written by the member during the preceding calendar year. Each participating member may divide its allotted votes among not more than 3 candidates' seats on the board. At least 4 members of the board of governors shall be from participating domestic members and shall be representative of all classifications of insurers to the degree possible. The number of governors may be increased by amendment of the plan of operation to a maximum of 21 governors. Two additional representatives of the general public shall be appointed by the commissioner, if the number of governors is increased. Other additional governors shall be elected by the participating members. At no time, however, shall representatives of the general public comprise more than 1/3 of the total membership of the board.   (2) Any vacancy on the board for a governor representing participating members shall be filled by a vote of the remaining governors representing those members.  (3) If at any time the participating members fail to elect the required number of governors within the time prescribed or a vacancy remains unfilled for more than 15 days, the commissioner may appoint the governors necessary to constitute a full board. History: Add. 1968, Act 262, Eff. Aug. 1, 1968 ;-- Am. 1971, Act 74, Eff. Aug. 1, 1971 ;-- Am. 1979, Act 145, Eff. Mar. 1, 1980 ;-- Am. 1980, Act 461, Imd. Eff. Jan. 15, 1981 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.2923 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2923 - Agents Writing Insurance on Behalf of Pool; Commissions; Losses.

500.2923 Agents writing insurance on behalf of pool; commissions; losses. Sec. 2923.  (1) The pool, by its plan of operation, may provide that any agent licensed to write a kind of insurance included in the definition of basic property insurance or home insurance set forth in section 2901 on behalf of any participating member, may write that kind of insurance on behalf of the pool without obtaining an additional license to represent the pool.  (2) The pool, as part of its plan of operation, shall adopt reasonable and adequate commissions to be paid to agents who write and service policies on behalf of the pool.   (3) Losses incurred by an agent relative to policies written under the provisions of this chapter shall not be used by an insurer in determining the loss ratio of its agents.  History: Add. 1971, Act 74, Eff. Aug. 1, 1971 ;-- Am. 1979, Act 145, Eff. Mar. 1, 1980 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.2924 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2924 - Underwriting Standards Employed in Determining Acceptable Risk for Basic Property Insurance; Basis of Underwriting Program for Home Insurance.

500.2924 Underwriting standards employed in determining acceptable risk for basic property insurance; basis of underwriting program for home insurance. Sec. 2924.  (1) The pool shall adopt, as part of its plan of operation, reasonable underwriting standards to be employed by it in determining whether or not a risk is acceptable for basic property insurance by the pool. The standards may include, but need not be limited to, protective devices, deductibles, coinsurance provisions, appropriate record keeping and limitations, not inconsistent with this chapter, on the amount of insurance that may be provided with respect to any 1 risk. The standards shall be relevant to the perils insured against and shall be consistent with the definition of qualified property, for basic property insurance, contained in section 2901.  (2) The pool shall adopt, as part of its plan of operation, a reasonable underwriting program for home insurance under which all qualified applicants may obtain home insurance for qualified property for home insurance in a convenient manner. The underwriting program shall be based only upon the following:  (a) The insured value under a replacement cost policy must be equal to at least 80% of the replacement cost of the property to be insured, as determined by inspection.  (b) The minimum insured value requirement for a repair cost policy shall be equal to at least 100% of the market value of the property to be insured. Policies may be issued in amounts up to 120% of the market value of the property to be insured. History: Add. 1968, Act 262, Eff. Aug. 1, 1968 ;-- Am. 1971, Act 74, Eff. Aug. 1, 1971 ;-- Am. 1979, Act 145, Eff. Mar. 1, 1980 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.2925 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2925 - Application to Pool for Basic Property Insurance; Form; Findings; Issuance of Policy; Reinsuring Policies; Statement Required if Risk Found Not Acceptable; Term of Policy; Renewal of Policy; Waiver of Inspection; Issuance and Term of Binders.

500.2925 Application to pool for basic property insurance; form; findings; issuance of policy; reinsuring policies; statement required if risk found not acceptable; term of policy; renewal of policy; waiver of inspection; issuance and term of binders. Sec. 2925.  (1) Any person who has an insurable interest in real or tangible personal property at fixed locations may apply to the pool for basic property insurance. The form of the application shall be prescribed by the commissioner.  (2) If the pool finds that: (a) the property has been inspected by the inspection bureau within the preceding 6 months; (b) the applicant made a good faith, diligent effort to obtain the same type of insurance through established channels in the insurance market provided by authorized insurers in this state appropriate to the nature, character, and value of the property; (c) there is no unpaid premium with respect to prior insurance on the property; and (d) the property constitutes qualified property and is an acceptable risk under the standards of the pool, then the pool in its own name, or a servicing facility in its own name, upon receipt of the premium, shall issue a policy for the applied for insurance. Policies issued in the name of a servicing facility may be reinsured by the pool.  (3) If the pool finds that the property is not an acceptable risk, the applicant shall be entitled to a written statement setting forth the features of the property or conditions which prevent it from constituting an acceptable risk and the measures which must be taken in order to make the property an acceptable risk.   (4) Policies issued by the pool or a servicing facility shall have a term of 1 year.  (5) Policies issued by the pool or a servicing facility may be renewed upon property otherwise meeting the conditions of this chapter for 2 consecutive successive terms without additional inspection, if the pool waives the inspection.  (6) The pool, upon receipt of an appropriate premium, may cause the issuance of binders for the applied for insurance for a period not exceeding 60 days upon property which at the time of issuance of the binders has not complied with all the applicable conditions of this chapter. History: Add. 1968, Act 262, Eff. Aug. 1, 1968 ;-- Am. 1971, Act 74, Eff. Aug. 1, 1971 ;-- Am. 1979, Act 145, Eff. Mar. 1, 1980 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.2925b (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2925b - Liability; Inspection; Enforcement by Commissioner.

500.2925b Liability; inspection; enforcement by commissioner. Sec. 2925b.  (1) There shall be no civil liability, other than contractual liability where applicable, on the part of, and a cause of action of any nature shall not arise against, the commissioner, an insurer, the pool or any of its facilities, an inspection bureau, or an authorized representative, agent, employee, affiliate of the commissioner, an insurer, the pool or any of its facilities, or an inspection bureau or any licensed insurance agent for any of the following:  (a) Acts or omissions related solely to the physical condition of the property in an inspection conducted for insurance purposes pursuant to this chapter.  (b) Failure to conduct an inspection for insurance purposes pursuant to this chapter.   (2) Subsection (1) shall not prohibit the commissioner from enforcing any provisions of this chapter relating to inspections. History: Add. 1979, Act 145, Eff. Mar. 1, 1980 ;-- Am. 1980, Act 461, Imd. Eff. Jan. 15, 1981 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.2925c (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2925c - Notice of Rights to Obtain Home Insurance.

500.2925c Notice of rights to obtain home insurance. Sec. 2925c.  On and after January 1, 1981, prior to the renewal of each residential policy issued under this chapter, the pool on a notice form prescribed by the commissioner shall notify each insured of his or her rights to obtain home insurance under chapter 21 and of his or her rights to obtain home insurance under this chapter. History: Add. 1979, Act 145, Imd. Eff. Nov. 13, 1979 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.2926-500.2929 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2926-500.2929 - Repealed. 1971, Act 74, Eff. Aug. 1, 1971.

500.2926-500.2929 Repealed. 1971, Act 74, Eff. Aug. 1, 1971. Compiler's Notes: The repealed sections pertained to liabilities, contributions, and insolvency of pool members.Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.2930 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2930 - Basic Property Insurance; Amount of Premium; Surcharge; Establishment of Rates; Filing Rates and Policy Forms.

500.2930 Basic property insurance; amount of premium; surcharge; establishment of rates; filing rates and policy forms. Sec. 2930.  (1) The premium for basic property insurance of any risk by the pool shall be equal to the rate for identical insurance established by a licensed rating organization for identical insurance within this state plus a uniform surcharge approved by the commissioner.  (2) The pool shall establish rates for any basic property insurance that is without rates established by a licensed rating organization or that the pool, with the approval of the commissioner, determines should be otherwise rated in order to better effectuate the purposes of this chapter. The pool shall file with the commissioner for his or her approval each rate and each policy form to be issued by it. The pool, acting as agent for participating members, shall file policy forms for basic property insurance to be issued by participating members under the provisions of this chapter. Rates and policy forms shall be filed in accordance with this chapter as the commissioner designates. History: Add. 1968, Act 262, Eff. Aug. 1, 1968 ;-- Am. 1971, Act 74, Eff. Aug. 1, 1971 ;-- Am. 1979, Act 145, Eff. Mar. 1, 1980 ;-- Am. 2002, Act 492, Eff. Mar. 31, 2003 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.2931 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2931 - Limitation on Annual Premiums Written by or on Behalf of Pool; Premium Ratios.

500.2931 Limitation on annual premiums written by or on behalf of pool; premium ratios. Sec. 2931.  (1) At no time shall the annual premiums directly written by the pool or on its behalf by servicing facilities exceed 10% of the aggregate assessable premiums for the previous calendar year.  (2) In order to assure that property in areas of the state receives an equitable opportunity to utilize the pool up to its premium capacity, it shall be the operating principle of the pool to maintain a ratio of the total premiums written by or on behalf of the pool in any 1 county in the state in any 1 calendar year to the total authorized premiums for the pool in that same year to the same ratio that the aggregate assessed valuation of all taxable nonfarm property situated in such county, assessed at state equalized value, bears to the aggregate assessed valuation of all taxable nonfarm property in the state, assessed at state equalized value, according to the most recent available official assessed valuation figure. Pool premium writings in 1 or more counties may exceed the ratios for such counties, if it is determined by the commissioner that there is and will be authorized premium capacity in the pool which will not be required or utilized to meet basic property insurance needs in other counties in the state during the calendar year. History: Add. 1968, Act 262, Eff. Aug. 1, 1968 ;-- Am. 1971, Act 74, Eff. Aug. 1, 1971 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.2933 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2933 - Pool Exempted From Fees and Taxes; Exception.

500.2933 Pool exempted from fees and taxes; exception. Sec. 2933.  The pool is exempt from all license fees, income, franchise, premium and privilege taxes levied or assessed by this state or any political subdivision of this state, except taxes upon the real or personal property of the pool, which is to be assessed and taxed in the same manner as the real and personal property of nonexempt persons. History: Add. 1971, Act 74, Eff. Aug. 1, 1971 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.2939 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2939 - Reinsurance Permitted.

500.2939 Reinsurance permitted. Sec. 2939.  Nothing in this chapter shall preclude the pool from acting as a reinsuring facility or from seeking reinsurance of all or a part of its risks with any reinsurer approved by the commissioner or with any agency of state or federal government having the power to issue such reinsurance. History: Add. 1968, Act 262, Eff. Aug. 1, 1968 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.2940 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954)|Section 500.2940 - Repealed. 2000, Act 486, Imd. Eff. Jan. 11, 2001.

500.2940 Repealed. 2000, Act 486, Imd. Eff. Jan. 11, 2001. Compiler's Notes: The repealed section pertained to promulgation of administrative rules.Popular Name: Act 218Popular Name: Essential Insurance