2017 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 500.2901 Definitions.
- Section 500.2910 Inspection of property; requests; operation of inspection bureau.
- 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.
- 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- Section 500.2926-500.2929 Repealed. 1971, Act 74, Eff.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; conditions; limitation on premium for repair cost policy; development of plans, rules, classifications, territories, and calculation steps; policy forms; filing; definitions.
- 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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