Michigan Compiled Laws
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.

Sec. 2912.
(1) A person shall not be issued a policy of home insurance at a rate requiring consent under section 2414 or 2614. A person shall not be issued basic property insurance coverage at a rate requiring consent under section 2414 or 2614 until an inspection has been made by the inspection bureau and the person has filed with the inspection bureau a sworn statement acknowledging his or her rights under this chapter and waiving those rights. The person's agent shall make a sworn statement that the person has been fully advised of his or her rights under this chapter and has been furnished a written description of those rights.
(2) A false affidavit by an agent is grounds for refusal, suspension, or revocation of license pursuant to section 1242.
(3) A person shall not employ the services of a surplus lines agent in obtaining basic property or home insurance until the person has filed with the commissioner a sworn statement acknowledging and waiving his or her rights under this chapter. The person's surplus lines agent shall make a sworn statement that the person has been fully advised of his or her rights under this chapter and has been furnished a written description of those rights.
(4) A false affidavit by a surplus lines agent constitutes grounds for refusal, suspension, or revocation of license pursuant to section 1242.
(5) The commissioner shall prescribe the forms of sworn statements and written descriptions of rights used in connection with this section.
History: Add. 1968, Act 262, Eff. Aug. 1, 1968 ;-- Am. 1971, Act 74, Eff. Aug. 1, 1971 ;-- Am. 1972, Act 133, Eff. Mar. 30, 1973 ;-- Am. 1979, Act 145, Eff. Mar. 1, 1980 Popular Name: Act 218Popular Name: Essential Insurance

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Structure Michigan Compiled Laws

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; Ri...

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.