Mich. Comp. Laws § 500.1601
Insurer or producer transacting creditor-placed insurance; scope.
Michigan · Michigan Compiled Laws — THE INSURANCE CODE OF 1956 (Act 218 of 1956) · Status: effective
Cite this
- Citation
- Mich. Comp. Laws § 500.1601, Insurer or producer transacting creditor-placed insurance; scope, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1367526
- Permanent ID
ys:prov:1367526@1- SHA-256
47633a38abef5f0106b2f6bcb0b32b723bcf5da4d97c9f5a624c70f1205a2dda
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
(1) This chapter applies to an insurer or producer transacting creditor-placed insurance as defined in this chapter.
(2) All creditor-placed insurance written in connection with credit transactions for personal, family, or household purposes is subject to the provisions of this chapter, except for the following:
(a) Transactions involving extensions of credit primarily for business or commercial purposes.
(b) Insurance on collateralized real property.
(c) Insurance offered by the creditor and elected by the debtor at the debtor's option.
(d) Insurance for which no specific charge is made to the debtor or the debtor's account.
(e) Blanket insurance, whether paid for by the debtor or the creditor.