reglab/statecodes huggingface dataset:
2023 Michigan Compiled Laws › Chapter 493 - Regulatory Loans › Act 75 of 2009 - Mortgage Loan Originator Licensing Act (493.131 - 493.171) › Section 493.149 - Fees; Reports; Penalties; Deposit of Money in Mblsla Fund; Limitation on Fee Levels.

493.149 Fees; reports; penalties; deposit of money in MBLSLA fund; limitation on fee levels.
Sec. 19.
(1) At the time of making an initial application for a mortgage loan originator license under this act, the applicant shall pay to the commissioner the annual operating fee established by the commissioner under subsection (2).
(2) The commissioner shall annually establish a schedule of fees that are sufficient to pay, but not to exceed, the reasonably anticipated costs of the office of financial and insurance regulation for administering and enforcing this act. The fee schedule shall include all of the following:
(a) An annual fee for each licensed mortgage loan originator in an amount established by the commissioner. For purposes of this subdivision, the commissioner shall establish an amount for the annual fee that is sufficient to defray the estimated cost of administering and enforcing the provisions of this act.
(b) For amending or reissuing a mortgage loan originator license, a fee of not less than $15.00 or more than $200.00.
(c) A licensed mortgage loan originator shall pay the actual travel, lodging, and meal expenses incurred by employees of the office of financial and insurance regulation who travel out of state to conduct an examination or investigation of a licensed mortgage loan originator and the cost of independent investigators employed under section 33(6)(a).
(3) Fees received under this act are not refundable.
(4) If any fees or penalties provided for in this act are not paid when required, the attorney general may maintain an action against the delinquent licensed mortgage loan originator for the recovery of the fees and penalties together with interest and costs.
(5) A licensed mortgage loan originator who fails to submit to the commissioner the reports required under section 33(3) is subject to a penalty of $25.00 for each day a required report is delinquent or $1,000.00, whichever is less.
(6) A mortgage loan originator license renewal fee that is not received on or before December 31 is subject to a penalty of $25.00 for each day the fee is delinquent or $1,000.00, whichever is less.
(7) Money received from the fees described in this section shall be deposited in the MBLSLA fund. As used in this subsection, "MBLSLA fund" means the restricted account created under section 8(8) of the mortgage brokers, lenders, and servicers licensing act, 1987 PA 173, MCL 445.1658.
(8) The annual operating fees set by the commissioner shall not exceed the levels needed to cover the estimated cost of enforcement of this act.
History:
2009, Act 75, Eff. July 31, 2009
2023 Michigan Compiled Laws › Chapter 493 - Regulatory Loans › Act 75 of 2009 - Mortgage Loan Originator Licensing Act (493.131 - 493.171) › Section 493.151 - Mortgage Loan Originators; License and Registration Through Nationwide Mortgage Licensing System and Registry; Rules.

493.151 Mortgage loan originators; license and registration through nationwide mortgage licensing system and registry; rules.
Sec. 21.
In addition to any other duties imposed on the commissioner under this act, the commissioner shall require mortgage loan originators to be licensed and registered through the nationwide mortgage licensing system and registry. To carry out this requirement, the commissioner is authorized to participate in the nationwide mortgage licensing system and registry and may by rule establish other requirements that he or she considers necessary, including, but not limited to, any of the following:
(a) Background checks for any of the following:
(i) The criminal history of a licensed mortgage loan originator or license applicant through fingerprint or other databases.
(ii) Information about a licensed mortgage loan originator or license applicant in civil or administrative records.
(iii) A licensed mortgage loan originator's or license applicant's credit history.
(iv) Any other information about a licensed mortgage loan originator or license applicant considered necessary by the nationwide mortgage licensing system and registry.
(b) The payment of fees to apply for or renew licenses through the nationwide mortgage licensing system and registry.
(c) The setting or resetting as necessary of renewal or reporting dates.
(d) Requirements for amending or surrendering a license or any other activities that the commissioner considers necessary for participation in the nationwide mortgage licensing system and registry.
History:
2009, Act 75, Eff. July 31, 2009
2023 Michigan Compiled Laws › Chapter 493 - Regulatory Loans › Act 75 of 2009 - Mortgage Loan Originator Licensing Act (493.131 - 493.171) › Section 493.153 - Process for Challenging Information Entered.

493.153 Process for challenging information entered.
Sec. 23.
The commissioner shall establish a process through which mortgage loan originators may challenge information entered into the nationwide mortgage licensing system and registry by the commissioner.
History:
2009, Act 75, Eff. July 31, 2009
2023 Michigan Compiled Laws › Chapter 493 - Regulatory Loans › Act 75 of 2009 - Mortgage Loan Originator Licensing Act (493.131 - 493.171) › Section 493.155 - Powers of Commissioner; Finding of Violation or Noncompliance; Fine.

493.155 Powers of commissioner; finding of violation or noncompliance; fine.
Sec. 25.
(1) To ensure the effective supervision and enforcement of this act, the commissioner may do any of the following, in a manner consistent with the requirements of the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328:
(a) Deny, suspend, revoke, condition, or decline to renew a license for a violation of this act, rules issued under this act, or an order or directive entered under this act.
(b) Deny, suspend, revoke, condition, or decline to renew a license if a licensed mortgage loan originator or license applicant fails at any time to meet the requirements of section 9 or 15 or withholds information or makes a material misstatement in an application for a license or renewal of a license.
(c) Order restitution against a person that is subject to this act for a violation of this act.
(d) Subject to subsections (2), (3), and (4), impose a civil fine on a person that is subject to this act.
(e) Issue any of the following orders or directives under this act:
(i) Order or direct a person that is subject to this act to cease and desist from conducting business, including an immediate temporary order to cease and desist.
(ii) Order or direct a person that is subject to this act to cease any harmful activities or violations of this act, including an immediate temporary order to cease and desist.
(iii) Enter an immediate temporary order to cease business under a license or interim license issued pursuant to the authority granted under section 5(4), if the commissioner determines that the license or interim license was erroneously granted or the licensed mortgage loan originator is currently in violation of this act.
(iv) Issue an order under section 27.
(v) Order or direct any other affirmative action that the commissioner considers necessary.
(2) The commissioner may impose a civil fine on a mortgage loan originator or other person subject to this act, if the commissioner finds, on the record after notice and opportunity for hearing, that the mortgage loan originator or other person has violated or failed to comply with a requirement of this act, a rule promulgated by the commissioner under this act, or an order issued under the authority of this act.
(3) The maximum fine for each violation or failure to comply described in subsection (2) is $25,000.00.
(4) Each violation or failure to comply described in subsection (2) is a separate and distinct violation or failure.
History:
2009, Act 75, Eff. July 31, 2009
2023 Michigan Compiled Laws › Chapter 493 - Regulatory Loans › Act 75 of 2009 - Mortgage Loan Originator Licensing Act (493.131 - 493.171) › Section 493.161 - Privacy or Confidentiality of Information or Material.

493.161 Privacy or confidentiality of information or material.
Sec. 31.
(1) Except as otherwise provided in section 1512 of the SAFE act, 12 USC 1511, the requirements of the freedom of information act, 1976 PA 442, MCL 15.231 to 15.246, or any federal law concerning the privacy or confidentiality of any information or material provided to the nationwide mortgage licensing system and registry, and any privilege arising under federal or state law or the rules of any federal or state court concerning that information or material shall continue to apply to that information or material after the information or material is disclosed to the nationwide mortgage licensing system and registry. Any information or material described in this section may be shared with any state and federal regulatory official with mortgage industry oversight authority without the loss of privilege or the loss of confidentiality protections provided by federal law or the freedom of information act, 1976 PA 442, MCL 15.231 to 15.246.
(2) For purposes of this section, the commissioner may enter into agreements or sharing arrangements with other governmental agencies, the conference of state bank supervisors, the American association of residential mortgage regulators, or other associations representing governmental agencies, as established by rule or order of the commissioner.
(3) Any information or material that is subject to a privilege or confidentiality under subsection (1) shall not be subject to any of the following:
(a) Disclosure under any federal or state law governing the disclosure to the public of information held by an officer or an agency of the federal government or the respective state.
(b) Subpoena or discovery, or admission into evidence, in any private civil action or administrative process, unless with respect to any privilege held by the nationwide mortgage licensing system and registry with respect to the information or material, the person to which the information or material pertains waives, in whole or in part, in that person's discretion, that privilege.
(4) This section does not apply to any information or material relating to the employment history of, and publicly adjudicated disciplinary and enforcement actions against, a mortgage loan originator that is included in the nationwide mortgage licensing system and registry for access by the public.
History:
2009, Act 75, Eff. July 31, 2009
2023 Michigan Compiled Laws › Chapter 493 - Regulatory Loans › Act 75 of 2009 - Mortgage Loan Originator Licensing Act (493.131 - 493.171) › Section 493.165 - Licensed Mortgage Loan Originator; Prohibited Conduct.

493.165 Licensed mortgage loan originator; prohibited conduct.
Sec. 35.
A licensed mortgage loan originator shall not do any of the following:
(a) Engage in fraud, deceit, or material misrepresentation in connection with any transaction governed by this act.
(b) Intentionally, or due to gross or wanton negligence, repeatedly fail to provide borrowers with any material disclosures of information required by law.
(c) Directly or indirectly make a false, misleading, or deceptive advertisement regarding mortgage loans or the availability of mortgage loans.
(d) Suppress or withhold from the commissioner any information that he or she possesses and that, if submitted, would have made him or her ineligible for licensure or license renewal under this act at the time of application and would have allowed the commissioner to refuse to license him or her.
(e) Be convicted of, or plead no contest to, any of the following:
(i) A misdemeanor involving fraud, dishonesty, or a breach of trust, money laundering, embezzlement, forgery, a financial transaction, or securities.
(ii) A felony.
(f) Refuse or fail to furnish any information or make any report required by the commissioner to issue or renew a license under this act, or otherwise required by the commissioner, within a reasonable period of time, as determined by the commissioner, after requested by the commissioner.
History:
2009, Act 75, Eff. July 31, 2009
2023 Michigan Compiled Laws › Chapter 493 - Regulatory Loans › Act 75 of 2009 - Mortgage Loan Originator Licensing Act (493.131 - 493.171) › Section 493.167 - Reports of Condition.

493.167 Reports of condition.
Sec. 37.
A licensed mortgage loan originator, or employer or principal of a licensed mortgage loan originator on his or her behalf, shall submit to the nationwide mortgage licensing system and registry reports of condition. The reports of condition shall be in the form and shall contain the information required by the nationwide mortgage licensing system and registry.
History:
2009, Act 75, Eff. July 31, 2009
2023 Michigan Compiled Laws › Chapter 493 - Regulatory Loans › Act 75 of 2009 - Mortgage Loan Originator Licensing Act (493.131 - 493.171) › Section 493.169 - Report of Violations; Rules.

493.169 Report of violations; rules.
Sec. 39.
(1) Subject to section 31, the commissioner shall regularly report violations of this act, and enforcement actions and other relevant information, to the nationwide mortgage licensing system and registry.
(2) The commissioner shall comply with the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328, in promulgating any rules under this act.
History:
2009, Act 75, Eff. July 31, 2009
2023 Michigan Compiled Laws › Chapter 493 - Regulatory Loans › Act 75 of 2009 - Mortgage Loan Originator Licensing Act (493.131 - 493.171) › Section 493.171 - Unique Identifier of Originator of Residential Mortgage Loan.

493.171 Unique identifier of originator of residential mortgage loan.
Sec. 41.
The unique identifier of any person originating a residential mortgage loan in this state shall be clearly shown on all residential mortgage loan application forms, solicitations, or advertisements, including business cards or websites, and any other documents, as established by rule or order of the commissioner.
History:
2009, Act 75, Eff. July 31, 2009
2023 Michigan Compiled Laws › Chapter 494 - Investment Companies and Tontines › Repealed - Act 166 of 1903 - Sale of Investment Securities on Installment Plan (494.1 - 494.8)

SALE OF INVESTMENT SECURITIES ON INSTALLMENT PLAN
Act 166 of 1903
494.1-494.8 Repealed. 1953, Act 20, Eff. Oct. 2, 1953.
2023 Michigan Compiled Laws › Chapter 494 - Investment Companies and Tontines › Repealed - Act 60 of 1903 - Foreign Investment Companies and Partnerships (494.101 - 494.109)

FOREIGN INVESTMENT COMPANIES AND PARTNERSHIPS
Act 60 of 1903
494.101-494.109 Repealed. 1953, Act 21, Eff. Oct. 2, 1953.
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.100 - Insurance Code of 1956; Short Title.

500.100 Insurance code of 1956; short title.
Sec. 100.
This act shall be known and may be cited as "the insurance code of 1956".
History:
1956, Act 218, Eff. Jan. 1, 1957
Compiler's Notes:
For transfer of the Department of Insurance and Office of the Commissioner on Insurance from the Department of Licensing and Regulation to the Department of Commerce, see E.R.O. No. 1991-9, compiled at MCL 338.3501 of the Michigan Compiled Laws.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.
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.102 - Definitions.

500.102 Definitions.
Sec. 102.
As used in this act:
(a) "Commissioner" means the director.
(b) "Department" means the department of insurance and financial services.
(c) "Director" means, unless the context clearly implies a different meaning, the director of the department.
(d) "Office of financial and insurance regulation" and "office of financial and insurance services" mean the department.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 2000, Act 252, Imd. Eff. June 29, 2000 ;-- Am. 2014, Act 509, Imd. Eff. Jan. 14, 2015 ;-- Am. 2014, Act 566, Imd. Eff. Jan. 15, 2015 ;-- Am. 2014, Act 571, Eff. Mar. 31, 2015
Compiler's Notes:
Enacting section 1 of Act 566 of 2014 provides:"Enacting section 1. (1) This amendatory act shall not be construed to do any of the following: (a) Authorize this state or an agency of this state to conduct or oversee state-level governmental consumer assistance functions for an American health benefit exchange established or operating in this state under the patient protection and affordable care act, Public Law 111-148, as amended by the health care and education reconciliation act of 2010, Public Law 111-152. (b) Convey any administrative, statutory, rule-making, or other power to this state or an agency of this state to authorize, establish, or operate an American health benefit exchange in this state that did not exist before the effective date of this amendatory act. (2) It is the intent of this legislature that any consumer assistance functions by or overseen by this state or an agency of this state with regard to an American health benefit exchange shall be conducted in a manner that utilizes and highlights Michigan-based resources, including insurance producers, in order to best serve the residents of this state and to ensure appropriate health care decisions."Enacting section 2 of Act 566 of 2014 provides:"Enacting section 2. This amendatory act applies to policies, certificates, or contracts delivered, issued for delivery, or renewed in this state on and after the effective date of this amendatory act."
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.103 - “Revenue Commissioner” Defined.

500.103 “Revenue commissioner” defined.
Sec. 103.
As used in this code, "revenue commissioner" means the state commissioner of revenue appointed under Act No. 122 of the Public Acts of 1941, being sections 205.1 to 205.31 of the Michigan Compiled Laws.
History:
Add. 1990, Act 256, Imd. Eff. Oct. 15, 1990
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.106 - "Health Maintenance Organization" and "Insurer" Defined.

500.106 "Health maintenance organization" and "insurer" defined.
Sec. 106.
As used in this act:
(a) "Health maintenance organization" means that term as defined in section 3501.
(b) "Insurer" means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. Except as otherwise provided in section 3503 and unless the context requires otherwise, insurer includes a health maintenance organization.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 2016, Act 276, Imd. Eff. July 1, 2016
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.108 - Authorized, Unauthorized Insurer; Definitions.

500.108 Authorized, unauthorized insurer; definitions.
Sec. 108.
As used in this code:
(1) "Authorized" insurer means an insurer duly authorized, by a subsisting certificate of authority issued by the commissioner, to transact insurance in this state.
(2) "Unauthorized" insurer means an insurer not so authorized to transact insurance in this state.
History:
1956, Act 218, Eff. Jan. 1, 1957
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.110 - Domestic, Foreign, Alien; Definitions.

500.110 Domestic, foreign, alien; definitions.
Sec. 110.
As used in this code:
(1) "Domestic" insurer means an insurer formed under the laws of this state.
(2) "Foreign" insurer means an insurer formed under the laws of the District of Columbia, or some state, commonwealth, territory, or possession of the United States of America other than the state of Michigan.
(3) "Alien" insurer means an insurer formed under the laws of a country other than the United States of America or any state, district, commonwealth, territory, or possession of the United States of America.
(4) Unless the context otherwise requires or unless the same subject is treated in this code by a provision expressly applying to alien insurers, the term "foreign insurer" as used in a particular section of this code shall be deemed to include also alien insurers.
History:
1956, Act 218, Eff. Jan. 1, 1957
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.114 - Person; Definition.

500.114 Person; definition.
Sec. 114.
"Person" as used in this code includes an individual, insurer, company, association, organization, Lloyds, society, reciprocal or inter-insurance exchange, partnership, syndicate, business trust, corporation, and any other legal entity.
History:
1956, Act 218, Eff. Jan. 1, 1957
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.118 - Treatment of Alien Insurer as Foreign Insurer.

500.118 Treatment of alien insurer as foreign insurer.
Sec. 118.
If an alien insurer is domiciled in a country other than the United States that has an agreement with the United States whereby each agrees to treat insurers domiciled in the other country the same as insurers domiciled in its own country, the alien insurer may apply for a certificate of authority as a foreign insurer pursuant to section 424. If the certificate of authority as a foreign insurer is granted, the alien insurer shall be treated as a foreign insurer under this act, but only to the extent that the other country and its political subdivisions in which the alien insurer is domiciled actually extend like treatment to insurers domiciled in the United States.
History:
Add. 1992, Act 182, Imd. Eff. Oct. 1, 1992
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.120 - Insurance, Surety, or Health Maintenance Organization Transactions; Compliance With Act.

500.120 Insurance, surety, or health maintenance organization transactions; compliance with act.
Sec. 120.
A person shall not transact an insurance, surety, or health maintenance organization business in this state, or relative to a subject resident, located or to be performed in this state, without complying with the applicable provisions of this act.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 2016, Act 276, Imd. Eff. July 1, 2016
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.121 - Surety; Rights; Remedies; Relief.

500.121 Surety; rights; remedies; relief.
Sec. 121.
(1) A person and a surety may agree to deposit any asset that the surety may be held responsible for into a financial institution that is authorized to transact business in this state in such manner as to prevent the withdrawal of the asset or any part of the asset except with the written consent of the surety or an order of the court made on such notice to the person and the surety as the court directs.
(2) A person acting in a fiduciary capacity who is required to obtain a bond may include the cost of obtaining the bond as part of the expense of acting as a fiduciary if allowed by the court to which the fiduciary is required to account and so long as the cost does not exceed 1% annually of the bond amount or an amount otherwise approved by the commissioner. The surety on a bond under this subsection may apply to the court for an order relieving the surety of liability for future acts of the fiduciary. Following notice and a hearing, the court may enter an order discharging the surety from liability arising out of acts or omissions occurring after the date of the order on such terms and conditions as the court considers necessary to protect the fiduciary estate and its beneficiaries.
(3) A person required to furnish a bond may use any surety that holds a certificate of authority issued under this chapter and so long as the amount of the bond is within the surety's risk limitation under section 640.
(4) Upon payment of the obligation secured by the bond, a surety is subrogated to the rights of the party to whom it made payment including any security or priority to which its subrogor was entitled.
(5) The corporate surety on a bond shall be released or discharged from its liability on the same terms and conditions as are applicable to the release or discharge of individual sureties. A surety has all rights, remedies, and relief to which an individual guarantor or indemnitor would be entitled.
History:
Add. 2001, Act 182, Imd. Eff. Dec. 21, 2001
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.122 - Applicability of Michigan Antitrust Reform Act.

500.122 Applicability of Michigan antitrust reform act.
Sec. 122.
Transactions or conduct authorized, prohibited, or permitted under a regulatory scheme under this code shall not be subject to the Michigan antitrust reform act, Act No. 274 of the Public Acts of 1984, being sections 445.771 to 445.788 of the Michigan Compiled Laws. The fact that a transaction or conduct concerns the business of insurance shall not exempt it from the Michigan antitrust reform act unless the activity has been authorized, prohibited, or permitted under a regulatory scheme under this code.
History:
Add. 1986, Act 173, Imd. Eff. July 7, 1986
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.124 - Exceptions.

500.124 Exceptions.
Sec. 124.
This code shall not apply to:
(a) Domestic farmers' and other special risk mutual property insurers, as identified in chapter 68, except as stated in chapter 68.
(b) Fraternal benefit societies, except as stated in chapter 81a.
(c) A multiple employer welfare arrangement regulated under chapter 70, except as provided in chapter 70.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1986, Act 121, Imd. Eff. May 28, 1986 ;-- Am. 1990, Act 1, Eff. Apr. 1, 1990
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.125 - Service Contract Not Subject to Act; "Consumer Product" and "Service Contract" Defined.

500.125 Service contract not subject to act; "consumer product" and "service contract" defined.
Sec. 125.
(1) A service contract is not insurance or the business of insurance and is not subject to this act.
(2) As used in this section:
(a) "Consumer product" means any tangible personal property that is distributed in commerce and is normally used for personal, family, or household purposes, including any tangible personal property intended to be attached to or installed in any real property without regard to whether it is so attached or installed.
(b) "Service contract" means a written contract that is sold for stated consideration for a specific duration that provides any of the following:
(i) To perform or provide reimbursement for the repair, replacement, or maintenance of a consumer product because of the operational or structural failure of the consumer product due to a defect in materials or workmanship; accidental damage from handling, power surge, or interruption; or normal wear and tear, with or without additional provisions for incidental payment of indemnity under limited circumstances, including, but not limited to, towing, rental, and emergency road service.
(ii) The repair or replacement or indemnification for the repair or replacement of a motor vehicle for the operational or structural failure of 1 or more parts or systems of the motor vehicle brought about by the failure of an additive product to perform as represented.
(iii) The repair or replacement of tires or wheels on a motor vehicle damaged as a result of coming into contact with road hazards, including, but not limited to, potholes, rocks, wood debris, metal parts, glass, plastic, curbs, or composite scraps.
(iv) The removal of dents, dings, or creases on a motor vehicle that can be repaired using the process of paintless dent removal without affecting the existing paint finish and without replacing vehicle body panels, sanding, bonding, or painting.
(v) The repair of small motor vehicle windshield chips or cracks, or if a windshield cannot be repaired, the replacement of the windshield.
(vi) The replacement of an inoperable, lost, or stolen motor vehicle key or key fob.
History:
Add. 2014, Act 110, Imd. Eff. Apr. 10, 2014
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.126 - Waiver of Customer Liability Agreement; Definitions.

500.126 Waiver of customer liability agreement; definitions.
Sec. 126.
(1) A waiver of customer liability agreement is not insurance or the business of insurance and is not subject to this act.
(2) As used in this section:
(a) "Service provider" means a public or private provider of electricity, natural gas, water, sewer, solid waste collection, or any other similar service, and any provider of communications services involving the transmission of data or any other information or signals utilizing any medium or method, including, but not limited to, cable or broadband service, IP-enabled voice service, cellular or mobile service, or any other similar service.
(b) "Waiver of customer liability agreement" means an optional agreement between a service provider and a customer of the service provider under which the service provider agrees, in return for a specified charge payable by the customer to the service provider, to waive all or a portion of the customer's liability to the service provider for incurred charges during a defined period in the event of any 1 or more of the following: the customer's call to active military service; involuntary unemployment; death; disability; hospitalization; marriage; divorce; evacuation; displacement due to natural disaster or other cause; qualification for family leave; or similar qualifying event or condition. A waiver of customer liability may be contained in the agreement under which the service provider provides services to the customer or in a separate agreement between the service provider and the customer.
History:
Add. 2006, Act 432, Imd. Eff. Oct. 5, 2006
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.127 - Guaranteed Asset Protection Waiver; Certificate of Authority or License Not Required; Issuance Not Construed as Insurance; Definitions.

500.127 Guaranteed asset protection waiver; certificate of authority or license not required; issuance not construed as insurance; definitions.
Sec. 127.
(1) A guaranteed asset protection waiver that is subject to the guaranteed asset protection waiver act is not insurance or the business of insurance and is not subject to this act.
(2) A person is not required to obtain a certificate of authority or license under this act to market, sell, or offer to sell guaranteed asset protection waivers in compliance with the guaranteed asset protection waiver act to borrowers.
(3) A guaranteed asset protection waiver issued before the effective date of the amendatory act that added this section shall not be construed as insurance.
(4) As used in this section, "borrower" and "guaranteed asset protection waiver" mean those terms as defined in section 3 of the guaranteed asset protection waiver act.
History:
Add. 2009, Act 230, Imd. Eff. Jan. 8, 2010
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.128 - Additional Exceptions.

500.128 Additional exceptions.
Sec. 128.
This code shall not apply to:
(a) Nonprofit organizations of a purely philanthropic or social character, which may issue protection for the benefit of their members in amounts not to exceed $150.00 death benefit or $6.00 per week sickness or accident benefit upon compliance with provisions of the nonprofit corporation act, Act No. 162 of the Public Acts of 1982, being sections 450.2101 to 450.3192 of the Michigan Compiled Laws, and with the further and additional requirements that commissions or fees shall not be charged in such transactions, nor shall these organizations be formed or operated principally or primarily for the purpose of issuing such policies or contracts of insurance.
(b) Organizations legally operating under exceptions to the application of the insurance code in force and effect heretofore, provided these organizations shall notify the commissioner of their intention to so continue, and shall furnish with that notice satisfactory proof of their eligibility under said exceptions. The commissioner shall not be required to accept any notice filed later than December 31, 1945.
(c) Those fraternal and other societies, orders, associations, and organizations exempted pursuant to section 8199, exempted fraternal societies and other organizations, but subject to the provisions of section 8199.
(d) Voluntary associations of employees which provide death, accident, or sickness benefits to persons employed by the same employer.
(e) The Mennonite aid association of Indiana and Michigan.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1986, Act 318, Eff. June 1, 1987 ;-- Am. 1990, Act 1, Eff. Apr. 1, 1990
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.132 - Saving Clause; Incumbent Officers.

500.132 Saving clause; incumbent officers.
Sec. 132.
Continuation by this act of any state department or any office existing under any act repealed herein preserves such department and preserves the tenure of the individual holding such office at the effective date of this act.
History:
1956, Act 218, Eff. Jan. 1, 1957
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.140 - Saving Clause; Existence of Domestic Insurer Continued.

500.140 Saving clause; existence of domestic insurer continued.
Sec. 140.
Any insurer heretofore formed or incorporated under any insurance law of this state, whose act of incorporation or act under which formed was repealed by Act No. 256 of the Public Acts of 1917 or is repealed by this act, shall continue to have a corporate existence (if a corporation) or existence (if other than a corporation), and shall have all the rights, privileges, immunities and limitations, obtained under such acts of incorporation or formation, as evidenced by their articles of incorporation, bylaws, power of attorney or constituent agreements made pursuant to such acts, as existing at the time this act takes effect; except, that all amendments to such articles of incorporation or powers of attorney or agreements shall be made hereafter in compliance with the provisions of this act, and all such insurers shall be otherwise governed by the provisions of this act. All reincorporations of such incorporated insurers, for the purpose of extending their corporate existence or for any other purpose shall be made only in compliance with this act, and any incorporated insurer heretofore incorporated under any insurance law of this state may reincorporate under this act.
History:
1956, Act 218, Eff. Jan. 1, 1957
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.142 - Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992

500.142 Repealed. 1992, Act 182, Imd. Eff. Oct. 1, 1992
Compiler's Notes:
The repealed section pertained to incorporation requirements for insurance companies.
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-1 - Chapter 1 Scope of Code (500.100...500.150) › Section 500.150 - Violation of Act; Hearing; Order of Director; Penalties; Court Order.

500.150 Violation of act; hearing; order of director; penalties; court order.
Sec. 150.
(1) Any person who violates any provision of this act for which a specific penalty is not provided under any other provision of this act or of other laws applicable to the violation must be afforded an opportunity for a hearing before the director under the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328. If the director finds that a violation has occurred, the director shall reduce the findings and decision to writing and issue and cause to be served on the person charged with the violation a copy of the findings and an order requiring the person to cease and desist from the violation. In addition, the director may order any of the following:
(a) Payment of a civil fine of not more than $1,000.00 for each violation. However, if the person knew or reasonably should have known that he or she was in violation of this act, the director may order the payment of a civil fine of not more than $5,000.00 for each violation. With respect to filings made under chapters 21, 22, 23, 24, and 26, "violation" means a filing not in compliance with those chapters and does not include an action with respect to an individual policy based on a noncomplying filing. An order of the director under this subdivision must not require the payment of civil fines exceeding $50,000.00. A fine collected under this subdivision must be turned over to the state treasurer and credited to the general fund.
(b) The suspension, limitation, or revocation of the person's license or certificate of authority.
(2) After notice and opportunity for hearing, the director may by order reopen and alter, modify, or set aside, in whole or in part, an order issued under this section if, in the director's opinion, conditions of fact or law have changed to require that action or the public interest requires that action.
(3) If a person knowingly violates a cease and desist order under this section and has been given notice and an opportunity for a hearing held under the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328, the director may order a civil fine of $20,000.00 for each violation, or a suspension, limitation, or revocation of the person's license, or both. A fine collected under this subsection must be turned over to the state treasurer and credited to the general fund.
(4) The director may apply to the court of claims for an order of the court enjoining a violation of this act.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1984, Act 7, Imd. Eff. Feb. 1, 1984 ;-- Am. 1992, Act 182, Imd. Eff. Oct. 1, 1992 ;-- Am. 2019, Act 21, Imd. Eff. June 11, 2019
Popular Name:
Act 218
Popular Name:
Essential Insurance
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-2 - Chapter 2 the Insurance Commissioner (500.200...500.271) › Section 500.200 - Insurance Department; Establishment.

500.200 Insurance department; establishment.
Sec. 200.
There is hereby established a separate and distinct state department which shall be especially charged with the execution of the laws in relation to insurance and surety business and to perform such other duties as may be required by law: Provided, however, That the said department so established shall be deemed and considered as in continuation of and the successor to the insurance bureau established by Act No. 108 of the Session Laws of 1871, and other acts amending and supplementing the same, and as in continuation of and the successor to the state department established by Act No. 256 of the Public Acts of 1917 and other acts amending or supplementing the same.
History:
1956, Act 218, Eff. Jan. 1, 1957
Compiler's Notes:
Act 108 of 1871, referred to in this section, was superseded by Act 256 of 1917. Act 256 of 1917, also referred to in this section, was repealed by Act 218 of 1956. For transfer of the Department of Insurance and Office of the Commissioner on Insurance from the Department of Licensing and Regulation to the Department of Commerce, see E.R.O. No. 1991-9, compiled at MCL 338.3501 of the Michigan Compiled Laws.For transfer of authority, powers, duties, functions, and responsibilities of the commissioner of insurance to the commissioner of the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
Popular Name:
Act 218
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-2 - Chapter 2 the Insurance Commissioner (500.200...500.271) › Section 500.202 - Insurance Commissioner; Qualifications, Office, Term, Appointment, Approval, Vacancy.

500.202 Insurance commissioner; qualifications, office, term, appointment, approval, vacancy.
Sec. 202.
(1) The chief officer of the department shall be known as the commissioner of insurance. He shall be a citizen of this state, shall have his office at the seat of government, shall personally superintend the duties of his office, and shall not be a stockholder or directly or indirectly connected with the management of affairs of any insurer. He shall be appointed by the governor for a term of 4 years by and with the consent of the senate.
(2) Whenever a vacancy occurs in the office of commissioner by reason of death, removal, or otherwise, the governor shall fill such vacancy by appointment, by and with the advice and consent of the senate, if in session.
History:
1956, Act 218, Eff. Jan. 1, 1957
Compiler's Notes:
For transfer of the Department of Insurance and Office of the Commissioner on Insurance from the Department of Licensing and Regulation to the Department of Commerce, see E.R.O. No. 1991-9, compiled at MCL 338.3501 of the Michigan Compiled Laws.
Popular Name:
Act 218
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-2 - Chapter 2 the Insurance Commissioner (500.200...500.271) › Section 500.204 - Insurance Commissioner; Salary; Oath; Bond.

500.204 Insurance commissioner; salary; oath; bond.
Sec. 204.
The commissioner shall receive an annual salary as the legislature shall appropriate, payable as other state officers are paid under the accounting laws of the state. Within 15 days from the time of notice of his or her appointment, the commissioner shall take and subscribe the constitutional oath of office and file the oath in the office of the secretary of state, and shall also within the same period give to the people of the state of Michigan a bond in the penal sum of $50,000.00, with sureties to be approved by the state treasurer, conditioned for the faithful discharge of the duties of his or her office.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 2002, Act 105, Imd. Eff. Mar. 27, 2002
Popular Name:
Act 218
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-2 - Chapter 2 the Insurance Commissioner (500.200...500.271) › Section 500.205 - Commissioner; Powers.

500.205 Commissioner; powers.
Sec. 205.
Orders, decisions, findings, rulings, determinations, opinions, actions, and inactions of the commissioner in this act shall be made or reached in the reasonable exercise of discretion.
History:
Add. 1992, Act 182, Imd. Eff. Oct. 1, 1992
Popular Name:
Act 218
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-2 - Chapter 2 the Insurance Commissioner (500.200...500.271) › Section 500.206 - Insurance Commissioner; Seal, Approval, Renewal.

500.206 Insurance commissioner; seal, approval, renewal.
Sec. 206.
The commissioner, with the approval of the governor, shall devise a seal, with suitable inscriptions, for his office, a description of which, with certificate of the approval of the governor, shall be filed in the office of the secretary of state, with an impression thereof, which seal shall thereupon be and become the seal of office of the commissioner of insurance and the same may be renewed whenever necessary.
History:
1956, Act 218, Eff. Jan. 1, 1957
Popular Name:
Act 218
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-2 - Chapter 2 the Insurance Commissioner (500.200...500.271) › Section 500.208 - Office of Financial and Insurance Services; Offices; Expense; Audit.

500.208 Office of financial and insurance services; offices; expense; audit.
Sec. 208.
The department of management and budget shall assign to the office of financial and insurance services at Lansing suitable rooms for conducting the business of the division, the necessary expense of which shall be audited by the department of management and budget.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 2002, Act 105, Imd. Eff. Mar. 27, 2002
Popular Name:
Act 218