§ 500.7300 Scope of chapter
§ 500.7301 Definitions
§ 500.7302 Corporations authorized to transact title insurance
§ 500.7303 Prerequisites to issuance of certificate of authority
§ 500.7304 Title insurers; powers
§ 500.7305 Unearned premium reserves
§ 500.7306 Claim reserves; requirements
§ 500.7308 Reinsurance; authorization
§ 500.7310 Rating organizations; formation; operation
§ 500.7312 Rates; filing
§ 500.7313 Filing of basic forms of policies; policy commitments and other contracts or agreements
§ 500.7315 Investments; interests in realty
§ 500.7316 Property title information report
§ 500.7317 Licensing of agents or solicitors
§ 500.7318 Effect of act on prior act; liabilities; penalties

Terms Used In Michigan Laws > Chapter 500 > Act 218 of 1956 > Chapter 73 - Title Insurers

  • Agreement: means a district library agreement required by section 3 or the agreement governing a district library established under former 1955 PA 164. See Michigan Laws 397.172
  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Board: means a district library board. See Michigan Laws 397.172
  • Commissioner: means the director. See Michigan Laws 500.102
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Department: means the department of education. See Michigan Laws 397.172
  • Director: means , unless the context clearly implies a different meaning, the director of the department. See Michigan Laws 500.102
  • District: means the territory of the participating municipalities that is served by a district library established under this act. See Michigan Laws 397.172
  • Escrow: Money given to a third party to be held for payment until certain conditions are met.
  • General election: means that term as defined in section 2 of the Michigan election law, 1954 PA 116, MCL 168. See Michigan Laws 397.172
  • in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
  • Insurer: means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. See Michigan Laws 500.106
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Legislative body: means , if the municipality is a school district, the school board. See Michigan Laws 397.172
  • Lien: A claim against real or personal property in satisfaction of a debt.
  • month: means a calendar month; the word "year" a calendar year; and the word "year" alone shall be equivalent to the words "year of our Lord". See Michigan Laws 8.3j
  • Municipality: means a city, village, school district, township, or county. See Michigan Laws 397.172
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Participating: means , in reference to a municipality, that the municipality is a party to an agreement. See Michigan Laws 397.172
  • person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
  • Property title information report: means information regarding matters of public record affecting legal title to real property that satisfies both of the following:
   (i) Is provided upon request to a real property owner, a financial institution, a person with a contractual interest in the real property, or to a person licensed under article 25 of the occupational code, Act No. See Michigan Laws 500.7301
  • Rate: means the cost of insurance per payroll before adjustment for an individual insured's size, exposure, or loss experience. See Michigan Laws 500.2402
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • School district: means 1 of the following but does not include a primary school district or a school district that holds meetings rather than elections:
  •   (i) "Local act school district" as defined in section 5 of the revised school code, 1976 PA 451, MCL 380. See Michigan Laws 397.172
  • state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
  • State librarian: means the department. See Michigan Laws 397.172
  • Title insurance: means the insuring, guaranteeing, or indemnifying of designated owners of real estate or any interest in real estate against loss or damage that may result because the title is vested in a manner otherwise than as stated in the title insurance policy, because the title is unmarketable, or because the title is subject to liens, encumbrances, or other matters adversely affecting the rights of use, enjoyment, or disposition of the real estate, and not excepted in the policy, all in accordance with the terms of a title insurance policy approved as to substance and form, or doing anything equivalent in substance to any of the foregoing in a manner designed to evade the provisions of this chapter. See Michigan Laws 500.7301
  • Title insurance policy: means any policy or contract insuring, guaranteeing, or indemnifying against loss or damage suffered by owners of real estate or by other persons interested in the real estate by reason of liens, encumbrances upon, defects in, or the unmarketability of the title to the real estate, or other matters affecting the title to real estate or the right to the use and enjoyment of the real estate, and insuring, guaranteeing, or indemnifying the condition of the title to real estate or the status of any lien on the real estate. See Michigan Laws 500.7301
  • Title insurer: means any domestic, foreign, or alien insurer issuing title insurance, either directly or indirectly, other than reinsurance or coinsurance or both as referred to in section 7308, with respect to any real estate located in this state. See Michigan Laws 500.7301
  • Trustee: A person or institution holding and administering property in trust.
  • United States: shall be construed to include the district and territories. See Michigan Laws 8.3o