Michigan Compiled Laws 218-1956-73 Chapter 73 Title Insurers (500.7300...500.7318)

• Section 500.7300 Scope Of Chapter.
  This chapter applies only to domestic, foreign and alien insurers transacting title insurance. History: Add. 1966, Act 221, Imd. Eff. July 11, 1966 Popular...
• Section 500.7301 Definitions.
  As used in this chapter: (a) “Title insurance” means the insuring, guaranteeing, or indemnifying of designated owners of real estate or any interest in...
• Section 500.7302 Corporations Authorized To Transact Title Insurance.
  Only a domestic, foreign or alien corporation organized on the stock plan and authorized by the commissioner pursuant to section 7303 shall transact or...
• Section 500.7303 Prerequisites To Issuance Of Certificate Of Authority.
  No corporation shall issue title insurance policies, contracts or commitments with respect to real estate located in this state or otherwise transact any business...
• Section 500.7304 Title Insurers; Powers.
  Every title insurer authorized to do business pursuant to this code may issue title insurance; make, execute and perfect such contracts, agreements, policies and...
• Section 500.7305 Unearned Premium Reserves.
  (1) Every title insurer authorized to transact title insurance in this state shall establish and maintain, except as provided in subsection (4), an unearned...
• Section 500.7306 Claim Reserves; Requirements.
  (1) Every title insurer shall establish and maintain, in addition to other reserves, a reserve against unpaid claims and claim expense, herein known as...
• Section 500.7308 Reinsurance; Authorization.
  (1) Any title insurer may reinsure a part of its liability under 1 or more of its title insurance policies, reinsurance or coinsurance agreements...
• Section 500.7310 Rating Organizations; Formation; Operation.
  Rating organizations for title insurance may be formed and may operate pursuant to the applicable provisions of chapter 24. History: Add. 1966, Act 221,...
• Section 500.7312 Rates; Filing.
  The rates of every title insurer shall be filed pursuant to the applicable provisions of chapter 24. History: Add. 1966, Act 221, Imd. Eff....
• Section 500.7313 Filing Of Basic Forms Of Policies; Policy Commitments And Other Contracts Or Agreements.
  The basic form of title policies, title policy commitments and other contracts or agreements of title insurance shall be subject to the filing and...
• Section 500.7315 Investments; Interests In Realty.
  In addition to the classes of investments authorized by chapter 9, any title insurer may invest in and hold interests in real estate acquired...
• Section 500.7316 Property Title Information Report.
  A title agency or insurer may provide a property title information report. A property title information report shall be provided without payment or consideration...
• Section 500.7317 Licensing Of Agents Or Solicitors.
  Persons acting as agents or solicitors for a title insurer shall be licensed in such capacities and subject to the applicable provisions of chapter...
• Section 500.7318 Effect Of Act On Prior Act; Liabilities; Penalties.
  (1) This chapter shall not impair or affect any act done, offense committed or right accruing, accrued or acquired or liability, penalty, forfeiture or...

Last modified: October 10, 2016