Basic Property Insurance, the Michigan Basic Property Insurance Association / FAIR plan
Michigan Insurance Code of 1956, Chapter 29, MCL 500.2901 to 500.2954, 23 sections
Edition and licensing notes
Publisher. Michigan Legislature (www.legislature.mi.gov)
Edition. Michigan Compiled Laws Complete Through PA 91 of 2026 (the publisher's own currency line, printed in the page header of every one of these PDFs; PDFs rendered 2026-09-05/06)
Status. US state statute; public domain.
What this document is
Michigan Insurance Code of 1956, Chapter 29 - Basic Property Insurance, the Michigan Basic Property Insurance Association / FAIR plan (MCL 500.2901 to 500.2954, 23 sections) is a state statute published by Michigan Legislature (www.legislature.mi.gov). It is one of the Michigan documents that insurance license exam questions are written from, including michigan property & casualty practice questions. This page summarizes it and points to the official version, which is the text to rely on.
Sections cited in practice questions
Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.
- MCL 500.2912(3) (Employing services of surplus lines agent; sworn statements)
“(3) A person shall not employ the services of a surplus lines agent in obtaining basic property or home insurance until the person has filed with the commissioner a sworn statement acknowledging and waiving his or her rights under this chapter. The person's surplus lines agent shall make a sworn...”
- MCL 500.2925(1) (Application to pool for basic property insurance)
“Any person who has an insurable interest in real or tangible personal property at fixed locations may apply to the pool for basic property insurance.”
- MCL 500.2924(1) (Underwriting standards employed in determining acceptable risk for basic property insurance)
“The pool shall adopt, as part of its plan of operation, reasonable underwriting standards to be employed by it in determining whether or not a risk is acceptable for basic property insurance by the pool. The standards may include, but need not be limited to, protective devices, deductibles,...”
- MCL 500.2925a(5) (Selection of dwellings for inspection upon renewal)
“However, the selection of dwellings for inspection upon renewal of policies shall not be based upon any of the following: (a) Location, whether by political subdivision, census tract, zip code, neighborhood, or area which may be described as a block, set of blocks, or by street coordinates. (b) The...”
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