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Section 500.2850 Repealed. 1962, Act 71, Eff. Mar. 28, 1963.

MI Comp L § 500.2850 (2019) (N/A)
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Compiler's Notes: The repealed section prohibited limitation of liability for failure to insure property for certain amount.Popular Name: Act 218

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Section 500.2845 Withholding 25% of Actual Cash Value or Final Settlement Where Loss to Insured Real Property Due to Fire or Explosion; Notice to City, Village, or Township Treasurer, Insured, and Mortgagee; Escrowing and Retaining Withheld Amount; Procedure; Recording Information and Depositing Money in Trust or Escrow Account; Releasing Policy Proceeds to Mortgagee; Commingling Funds Prohibited; Retaining Earned Interest; Forwarding Money to Insured; Reasonable Proof; Using Retained Proceeds to Secure, Repair, or Demolish Damaged or Destroyed Structure and Clear Property; Returning Unused Portion of Retained Proceeds; Demolition of Property; Civil Action for Return of Policy Proceeds; Liability of Insurer; Applicability of Section; List of Cities, Villages, and Townships; Exception to Withholding Requirements; Definitions.
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Section 500.2860 Contrary Provision Void.