reglab/statecodes huggingface dataset:
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-26 - Chapter 26 Fire and Inland Marine Rates (500.2600...500.2674) › Section 500.2666 - Withholding Information, False or Misleading Information; Penalties.

500.2666 Withholding information, false or misleading information; penalties.
Sec. 2666.
No person or organization shall wilfully withhold information from, or knowingly give false or misleading information to, the commissioner, any statistical agency designated by the commissioner, any rating organization, or any insurer, which will affect the rates or premiums chargeable under this chapter. A violation of this section shall subject the one guilty of such violation to the penalties provided in section 2670.
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) › 218-1956-26 - Chapter 26 Fire and Inland Marine Rates (500.2600...500.2674) › Section 500.2670 - Violation of Chapter; Imposition and Disposition of Civil Fines; Suspension or Revocation of License.

500.2670 Violation of chapter; imposition and disposition of civil fines; suspension or revocation of license.
Sec. 2670.
(1) Subject to subsection (3), the commissioner may, if he or she finds that any person or organization has violated any provision of this chapter, impose a civil fine of not more than $300.00 for each violation, but if the commissioner finds the violation to be wilful, the commissioner may impose a civil fine of not more than $1,500.00 for each violation. Civil fines imposed under this subsection may be in addition to any other penalty provided by law. A fine collected under this subsection shall be turned over to the state treasurer and credited to the general fund of the state.
(2) The commissioner may suspend the license of any rating organization or insurer which fails to comply with an order of the commissioner within the time specified by the order, or any extension of the order which the commissioner may grant. The commissioner shall not suspend the license of any rating organization or insurer for failure to comply with an order until the time prescribed for an appeal from the order has expired or if an appeal has been taken, until the order has been affirmed. The commissioner may determine when a suspension of license shall become effective, and the suspension shall remain in effect for the period fixed by the commissioner, unless he or she modifies or rescinds the suspension, or until the order upon which the suspension is based is modified, rescinded, or reversed.
(3) A civil fine shall not be imposed and a license shall not be suspended or revoked except upon a written order of the commissioner, specifying the alleged violation and stating his or her findings, made after a hearing held upon not less than 10 days' written notice to the person or organization. An order issued by the commissioner pursuant to this section shall not require the payment of civil fines exceeding $10,000.00.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1984, Act 7, Imd. Eff. Feb. 1, 1984
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) › 218-1956-26 - Chapter 26 Fire and Inland Marine Rates (500.2600...500.2674) › Section 500.2672 - Insurer or Rating Organization Aggrieved by Order Without Hearing; Hearing, Court Review.

500.2672 Insurer or rating organization aggrieved by order without hearing; hearing, court review.
Sec. 2672.
(1) Any insurer or rating organization aggrieved by any order or decision of the commissioner made without a hearing, may, within 30 days after notice of the order to the insurer or organization, make written request to the commissioner for a hearing thereon. The commissioner shall hear such party or parties within 20 days after receipt of such request and shall give not less than 10 days' written notice of the time and place of the hearing. Within 15 days after such hearing the commissioner shall affirm, reverse or modify his previous action, specifying his reasons therefor. Pending such hearing and decision thereon the commissioner may suspend or postpone the effective date of his previous action.
(2) Any order or decision of the commissioner shall be subject to review in accordance with the provisions of section 244.
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) › 218-1956-26 - Chapter 26 Fire and Inland Marine Rates (500.2600...500.2674) › Section 500.2674 - Insurance Commissioner; Regulatory Powers.

500.2674 Insurance commissioner; regulatory powers.
Sec. 2674.
The commissioner may make reasonable rules and regulations necessary to effect the purposes of this chapter.
History:
1956, Act 218, Eff. Jan. 1, 1957
Popular Name:
Act 218
Admin Rule:
R 500.1301 et seq. and R 501.251 et seq. of the Michigan Administrative Code.
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-27 - Chapter 27 Legal Expense Insurance (500.2700...500.2706) › Section 500.2700 - Applicability of Chapter.

500.2700 Applicability of chapter.
Sec. 2700.
This chapter shall apply to legal expense insurance policies.
History:
Add. 1982, Act 501, Imd. Eff. Dec. 31, 1982
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) › 218-1956-27 - Chapter 27 Legal Expense Insurance (500.2700...500.2706) › Section 500.2702 - Meaning of Group Legal Expense Insurance.

500.2702 Meaning of group legal expense insurance.
Sec. 2702.
Group legal expense insurance is that form of voluntary legal expense insurance covering not less than 5 employees or members, with or without their eligible dependents, written under a master policy issued to any governmental corporation, unit, agency, or department thereof, or to any corporation, partnership, individual employer, or any association, upon application of any executive officer or trustee of such association having a constitution or bylaws, and formed in good faith for purposes other than that of obtaining insurance where officers, members, employees, or classes or departments thereof may be insured for their individual benefit.
History:
Add. 1982, Act 501, Imd. Eff. Dec. 31, 1982
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) › 218-1956-27 - Chapter 27 Legal Expense Insurance (500.2700...500.2706) › Section 500.2706 - Procedures and Standards for Approval of Casualty Rates and Forms to Apply to Legal Expense Insurance.

500.2706 Procedures and standards for approval of casualty rates and forms to apply to legal expense insurance.
Sec. 2706.
(1) Except as provided in subsection (2), the procedures and standards contained in chapter 22, sections 2406 to 2430, section 2478, and chapter 30 for the approval of casualty rates and forms shall apply to legal expense insurance.
(2) Employee group policies shall be exempt from the rate filing requirements provided in subsection (1). An insurer which does not file rates for employee group policies shall retain such rates on file for a period of 5 years.
History:
Add. 1982, Act 501, Imd. Eff. Dec. 31, 1982
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2804 - Fire Insurance Contracts on Property Herein Deemed Made in Michigan.

500.2804 Fire insurance contracts on property herein deemed made in Michigan.
Sec. 2804.
All contracts of fire insurance upon property real or personal located in this state shall be held and deemed to be made and consummated within this state.
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2806 - Policy or Contract of Fire Insurance; Requirements.

500.2806 Policy or contract of fire insurance; requirements.
Sec. 2806.
A policy or contract of fire insurance shall not be made, issued, or delivered by an insurer or by an agent or representative of an insurer, on any property in this state, unless it conforms to the provisions of this chapter.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1990, Act 305, Imd. Eff. Dec. 14, 1990
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2807, 500.2808 - Repealed. 1990, Act 305, Imd. Eff. Dec. 14, 1990.

500.2807, 500.2808 Repealed. 1990, Act 305, Imd. Eff. Dec. 14, 1990.
Compiler's Notes:
The repealed sections pertained to exemptions for and format for standard fire policy.
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2810 - Printing Regulations on Fire Policy.

500.2810 Printing regulations on fire policy.
Sec. 2810.
If a fire policy is issued by a mutual, cooperative, or reciprocal insurer having special regulations with respect to the payment by the policyholder of assessments, the regulations shall be printed upon the policy, and the insurer may print upon the policy regulations as may be required by its home state or appropriate to its form of organization.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1990, Act 305, Imd. Eff. Dec. 14, 1990
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2812 - Combination Fire Policy; Mandatory Provisions.

500.2812 Combination fire policy; mandatory provisions.
Sec. 2812.
Two or more insurers authorized to transact fire insurance in this state may, with the approval of the commissioner, issue a combination fire policy which shall contain the following provisions:
(a) A provision substantially to the effect that the insurers executing the policy shall be severally liable for the full amount of any loss or damage, according to the terms of the policy, or for specified percentages or amounts thereof, aggregating the full amount of the insurance under the policy.
(b) A provision substantially to the effect that service of process, or of any notice or proof of loss required by the policy, upon any of the insurers executing the policy, shall be considered service upon all the insurers.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1990, Act 305, Imd. Eff. Dec. 14, 1990
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2816-500.2824 - Repealed. 1990, Act 305, Imd. Eff. Dec. 14, 1990.

500.2816-500.2824 Repealed. 1990, Act 305, Imd. Eff. Dec. 14, 1990.
Compiler's Notes:
The repealed sections pertained to binders or other contracts for temporary insurance and to riders and indorsements.
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2826 - Liability for Difference Between Actual Value of Property and Amount Expended to Repair, Rebuild, or Replace.

500.2826 Liability for difference between actual value of property and amount expended to repair, rebuild, or replace.
Sec. 2826.
An insurer may issue a fire insurance policy, insuring property, by which the insurer agrees to reimburse and indemnify the insured for the difference between the actual value of the insured property at the time any loss or damages occurs, and the amount actually expended to repair, rebuild, or replace with new materials of like size, kind, and quality, but not to exceed the amount of liability covered by the fire policy. A fire policy issued pursuant to this section may provide that there shall be no liability by the insurer to pay the amount specified in the policy unless the property damaged is actually repaired, rebuilt, or replaced at the same or another site.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1990, Act 305, Imd. Eff. Dec. 14, 1990
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2827 - Fire Policy Providing Reimbursement for Lost or Damaged Property; Maximum Liability; Cash Settlement; Payment of Amount in Excess of Actual Cash Value of Lost or Damaged Property.

500.2827 Fire policy providing reimbursement for lost or damaged property; maximum liability; cash settlement; payment of amount in excess of actual cash value of lost or damaged property.
Sec. 2827.
(1) An insurer may issue a fire policy, insuring property, by which the insurer agrees to reimburse and indemnify the insured for the difference between the actual cash value of the lost or damaged insured property at the time of the loss or damage, and the amount actually necessary to repair, rebuild, or replace the lost or damaged insured property to a condition and appearance similar to that which existed at the time of the loss or damage based on the use of conventional materials and construction methods which are currently available without extraordinary expense. The insurer's liability shall not exceed the amount of liability covered by the contract of insurance.
(2) The contract of insurance established pursuant to subsection (1) shall not preclude an insured from selecting a cash settlement based on the actual cash value of the lost or damaged insured property at the time of the loss or damage, but not to exceed the amount of liability covered by the contract.
(3) The contract of insurance established pursuant to subsection (1) may provide that there shall be no liability on the part of the insurer to pay an amount in excess of the actual cash value of the lost or damaged insured property at the time of the loss or damage, unless the lost or damaged property is actually repaired, rebuilt, or replaced at the same or another contiguous site. However, this subsection shall not apply if the amount of loss or damage to the insured property under the standards of subsection (1) exceeds the amount of liability covered by the contracts.
History:
Add. 1979, Act 145, Imd. Eff. Nov. 13, 1979 ;-- Am. 1990, Act 305, Imd. Eff. Dec. 14, 1990
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2828 - Repealed. 1990, Act 305, Imd. Eff. Dec. 14, 1990.

500.2828 Repealed. 1990, Act 305, Imd. Eff. Dec. 14, 1990.
Compiler's Notes:
The repealed section pertained to coverage for loss or damage caused by nuclear reaction, nuclear radiation, or radioactive contamination.
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2832 - Repealed. 1990, Act 305, Eff. Jan. 1, 1992.

500.2832 Repealed. 1990, Act 305, Eff. Jan. 1, 1992.
Compiler's Notes:
The repealed section pertained to form of standard policy.
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2834 - Fire Insurance Policy; Exclusion Related to Terrorism; Definition.

500.2834 Fire insurance policy; exclusion related to terrorism; definition.
Sec. 2834.
(1) Notwithstanding section 2833, a commercial fire insurance policy issued or delivered in this state may exclude coverage for loss by fire or other perils insured against if the fire or perils were caused directly or indirectly by terrorism.
(2) As used in this section, "terrorism" means any of the following:
(a) A certified act of terrorism as defined in the terrorism risk insurance act of 2002, Public Law 107-297, 116 Stat. 2322.
(b) A violent act or an act that is dangerous to human life, property, or infrastructure that is committed by an individual or individuals and that appears to be part of an effort to coerce a civilian population or to influence the policy or affect the conduct of any government by coercion.
(c) Terrorism as defined in a form that is voluntarily filed under and subject to section 2236 and is properly in use.
History:
Add. 2003, Act 11, Imd. Eff. May 29, 2003
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2836 - Breach of Warranty or Condition as Defense; Payment of Losses.

500.2836 Breach of warranty or condition as defense; payment of losses.
Sec. 2836.
(1) An insurer shall not base a defense under the terms of a fire insurance policy permitted to be used in this state, upon a breach of warranty or condition occurring before loss, unless the breach exists at the time of the loss or contributes to the loss or to the amount of the loss.
(2) Except as otherwise provided in section 2845, losses under any fire insurance policy shall be paid within 30 days after receipt of proof of the amount of the loss, notwithstanding the provisions of any contract or statute to the contrary.
History:
1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 1980, Act 495, Eff. Mar. 31, 1981 ;-- Am. 1990, Act 305, Imd. Eff. Dec. 14, 1990
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2840 - Repealed. 1990, Act 305, Imd. Eff. Dec. 14, 1990.

500.2840 Repealed. 1990, Act 305, Imd. Eff. Dec. 14, 1990.
Compiler's Notes:
The repealed section pertained to coinsurance clauses.
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) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2842 - Average or Pro Rata Clause; Form; Filing and Approval.

500.2842 Average or pro rata clause; form; filing and approval.
Sec. 2842.
(1) An insurer authorized to do business within this state may attach to an existing policy or to one to be issued by the insurer an average or pro rata clause.
(2) The average or pro rata clause shall be made substantially in the following form:
"It is hereby agreed, in case of loss, this policy shall attach in or on each building, division, or location in such proportion as the values in or on the buildings, division, or location bear to the aggregate value of the property insured."
(3) It shall not be necessary for all average or pro rata rider clauses to be in the exact language used in subsection (2), but such clause shall not be attached to a policy unless the form of the clause was filed with and received the approval of the commissioner.
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
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-28 - Chapter 28 Fire Insurance Contracts (500.2804...500.2866) › Section 500.2850 - Repealed. 1962, Act 71, Eff. Mar. 28, 1963.

500.2850 Repealed. 1962, Act 71, Eff. Mar. 28, 1963.
Compiler's Notes:
The repealed section prohibited limitation of liability for failure to insure property for certain amount.
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) › 218-1956-28 - 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
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-28 - 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
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-28 - 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
2023 Michigan Compiled Laws › Chapter 500 - Insurance Code of 1956 › Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302) › 218-1956-29 - 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 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) › 218-1956-29 - 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 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) › 218-1956-29 - 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 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) › 218-1956-29 - 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 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) › 218-1956-29 - 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 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) › 218-1956-29 - 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 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) › 218-1956-29 - 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 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) › 218-1956-29 - 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 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) › 218-1956-29 - 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 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) › 218-1956-29 - 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 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) › 218-1956-29 - 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 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) › 218-1956-29 - 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 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) › 218-1956-29 - 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 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) › 218-1956-29 - 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 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) › 218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954) › Section 500.2941 - Pool; Supervision, Regulation and Examination.

500.2941 Pool; supervision, regulation and examination.
Sec. 2941.
The operation of the pool shall at all times be subject to the supervision and regulation of the commissioner. The commissioner, or any deputy or examiner, or any person whom he shall appoint, shall have the power of visitation and examination into the affairs of the pool and free access to all the books, papers and documents that relate to the business of the pool, may summon and qualify witnesses under oath, and may examine officers, agents or employees or any other person having knowledge of the affairs, transactions or conditions of the pool.
History:
Add. 1968, Act 262, Eff. Aug. 1, 1968
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) › 218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954) › Section 500.2942 - Liability for Statements Made in Reports, at Hearings, or in Findings; Reports of Inspection Bureau.

500.2942 Liability for statements made in reports, at hearings, or in findings; reports of inspection bureau.
Sec. 2942.
(1) There shall be no liability on the part of, and a cause of action of any nature shall not arise against, insurers, the inspection bureau, the pool or any of its facilities, governors, agents, or employees, or the commissioner or his or her authorized representatives, for any statements made by them in any reports concerning the property to be insured, or at the time of the hearings conducted in connection therewith, or in the findings required by the provisions of this chapter.
(2) The reports of the inspection bureau and the pool shall not be considered public documents.
History:
Add. 1968, Act 262, Eff. Aug. 1, 1968 ;-- Am. 1980, Act 461, Imd. Eff. Jan. 15, 1981
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) › 218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954) › Section 500.2943 - Appeal to Insurance Commissioner; Hearing; Order.

500.2943 Appeal to insurance commissioner; hearing; order.
Sec. 2943.
Any person aggrieved by any action or decision of the inspection bureau or the pool may appeal to the commissioner within 30 days from the action or decision. After a hearing held upon not less than 10 days' written notice to the aggrieved person and the inspection bureau or the pool, the commissioner shall issue an order approving the action or decision, disapproving the action or decision, or directing the inspection bureau or the pool to give further consideration to the matter.
Proceedings under this chapter are subject to Act No. 306 of the Public Acts of 1969, as amended.
History:
Add. 1968, Act 262, Eff. Aug. 1, 1968 ;-- Am. 1971, Act 74, Eff. Aug. 1, 1971
Compiler's Notes:
For provisions of Act 306 of 1969, referred to in this section, see MCL 24.201 et seq.
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) › 218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954) › Section 500.2950 - Repealed. 1971, Act 74, Eff. Aug. 1, 1971.

500.2950 Repealed. 1971, Act 74, Eff. Aug. 1, 1971.
Compiler's Notes:
The repealed section pertained to a voluntary plan of operation by authorized insurers.
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) › 218-1956-29 - Chapter 29 Basic Property Insurance (500.2901...500.2954) › Section 500.2954 - Determinations Made by Commissioner.

500.2954 Determinations made by commissioner.
Sec. 2954.
Determinations made by the commissioner pursuant to this chapter shall be made independent of the credits provided to insurers pursuant to the former single business tax act, 1975 PA 228, or the Michigan business tax act, 2007 PA 36, MCL 208.1101 to 208.1601.
History:
Add. 1987, Act 261, Imd. Eff. Dec. 28, 1987 ;-- Am. 2007, Act 187, Imd. Eff. Dec. 21, 2007
Popular Name:
Act 218
Popular Name:
Essential Insurance