2006 Michigan Compiled Laws - CHAPTER 29 BASIC PROPERTY INSURANCE (500.2901...500.2954)

THE INSURANCE CODE OF 1956 (EXCERPT)
Act 218 of 1956 Chapter 29
BASIC PROPERTY INSURANCE

Document	Description
Section 500.2901	Definitions.
Section 500.2910	Inspection of property; requests; operation of inspection bureau.
Section 500.2912	Issuing insurance at rate requiring consent under §§ 500.2414 or 500.2614; inspection; sworn statements; false affidavits; employing services of surplus lines agent; forms of sworn statements; descriptions of rights.
Section 500.2920	Michigan basic property insurance association or "pool"; membership; plan of operation and amendments to plan; approval; compliance; designation of members as servicing facilities; reimbursement and authority of facility; rules; rights and liabilities of pool.
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.
Section 500.2923	Agents writing insurance on behalf of pool; commissions; losses.
Section 500.2924	Underwriting standards employed in determining acceptable risk for basic property insurance; basis of underwriting program for home insurance.
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.
Section 500.2925a	Application to pool for home insurance; form; findings; issuance of policy; reinsuring policies; statement required if property or applicant not qualified; term of policy; renewal of policy; selection of dwellings for inspection; issuance and term of binders.
Section 500.2925b	Liability; inspection; enforcement by commissioner.
Section 500.2925c	Notice of rights to obtain home insurance.
Section 500.2926-500.2929	Repealed. 1971, Act 74, Eff. Aug. 1, 1971.
Section 500.2930	Basic property insurance; amount of premium; surcharge; establishment of rates; filing rates and policy forms.
Section 500.2930a	Rates charged in territory for home insurance; rating territories; change in rates; review of rates; limitation on premium for repair cost policy; development of plans, rules, classifications, and manual; minimum policy forms; filing rates and policy forms; report.
Section 500.2931	Limitation on annual premiums written by or on behalf of pool; premium ratios.
Section 500.2932	Annual rate of assessment; establishment; purpose; basis; notice; payment of assessments; estimating assessable premiums; adjustment of premium rates; annual statement; assessments as income; deficit or surplus; advance assessments; exempting or deferring assessment; duration of certain rate adjustments; certain deficits carried forward; sharing assets, liabilities, income, and disbursements.
Section 500.2933	Pool exempted from fees and taxes; exception.
Section 500.2939	Reinsurance permitted.
Section 500.2940	Repealed. 2000, Act 486, Imd. Eff. Jan. 11, 2001.
Section 500.2941	Pool; supervision, regulation and examination.
Section 500.2942	Liability for statements made in reports, at hearings, or in findings; reports of inspection bureau.
Section 500.2943	Appeal to insurance commissioner; hearing; order.
Section 500.2950	Repealed. 1971, Act 74, Eff. Aug. 1, 1971.
Section 500.2952	Federal riot reinsurance reimbursement fund; contents, assessments, reimbursements, retroactive effect.
Section 500.2954	Determinations made by commissioner.

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