Sec. 7303.
No corporation shall issue title insurance policies, contracts or commitments with respect to real estate located in this state or otherwise transact any business of title insurance in this state unless it holds a certificate of authority from the commissioner, pursuant to section 402, authorizing the transaction of the business, which certificate shall not be issued until the title insurer has complied with the following conditions:
(a) The insurer shall comply with the deposit requirements of section 411.
(b) A domestic, foreign or alien title insurer shall have completed its rate filing pursuant to section 7312.
(c) A domestic, foreign or alien title insurer shall have filed its forms of policies pursuant to section 7313.
History: Add. 1966, Act 221, Imd. Eff. July 11, 1966 ;-- Am. 1972, Act 360, Imd. Eff. Jan. 9, 1973 Popular Name: Act 218
Structure Michigan Compiled Laws
Chapter 500 - Insurance Code of 1956
Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)
218-1956-73 - Chapter 73 Title Insurers (500.7300...500.7318)
Section 500.7300 - Scope of Chapter.
Section 500.7301 - Definitions.
Section 500.7302 - Corporations Authorized to Transact Title Insurance.
Section 500.7303 - Prerequisites to Issuance of Certificate of Authority.
Section 500.7304 - Title Insurers; Powers.
Section 500.7305 - Unearned Premium Reserves.
Section 500.7306 - Claim Reserves; Requirements.
Section 500.7308 - Reinsurance; Authorization.
Section 500.7310 - Rating Organizations; Formation; Operation.
Section 500.7312 - Rates; Filing.
Section 500.7315 - Investments; Interests in Realty.
Section 500.7316 - Property Title Information Report.
Section 500.7317 - Licensing of Agents or Solicitors.
Section 500.7318 - Effect of Act on Prior Act; Liabilities; Penalties.