Michigan Laws 500.815 – Computation of unearned premium reserve on mortgage guaranty insurance
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Terms Used In Michigan Laws 500.815
- Commissioner: means the director. See Michigan Laws 500.102
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
The unearned premium reserve on mortgage guaranty insurance shall be computed in accordance with section 808, except that on policies covering a risk period of more than 1 year the unearned premium reserve shall be computed in accordance with rules promulgated by the commissioner.