Michigan

The relevant statute is Mich. Comp. Laws Ann. §500.1243(24).

A. Actions lender may take: Mich. Comp. Laws Ann. §500.1243(24) - If a borrower has failed to keep required insurance in force, Mich. Comp. Laws Ann. §500.1243(24) (related to a lender's sale of insurance products) does not prohibit a lender from obtaining the required insurance in accordance with the terms of the loan or from obtaining insurance limited to repayment of the outstanding balance due in the event of loss or damage to the collateral.

B. Notices required: No express statutory provision.

C. Coverage required: No express statutory provision.

D. Charges permitted: No express statutory provision.

E. Finance charge allowed on lender's payment: No express statutory provision.

Click here to view relevant Michigan Code and Regulations.