Act

Credit reform act

Mich. Comp. Laws § 445.1851— Short title
Mich. Comp. Laws § 445.1852— Definitions
Mich. Comp. Laws § 445.1853— Scope of act
Mich. Comp. Laws § 445.1854— Charge, collection, and receipt of interest rate or finance charge; maximum rate; computation
Mich. Comp. Laws § 445.1855— Credit sale under MCL 445.1101 to 445.1431 or MCL 492.101 to 492.141; written agreement; precomputed interest provision
Mich. Comp. Laws § 445.1856— Regulated lender; authority to charge fee for late payment or dishonored check; fee or charge not considered as interest; excessive fee or charge
Mich. Comp. Laws § 445.1857— Fees or charges servicing extension of credit; charge, collection, and receipt by depository institution; credit card arrangement fees and charges considered as interest; excessive fee or charge
Mich. Comp. Laws § 445.1858— Certain provisions in written agreement as void and unenforceable
Mich. Comp. Laws § 445.1859— Additional financial services as condition for loan approval prohibited; offer of services; certain transactions or requirements not prohibited; applicability of section to depository institution subject to 12 U.S.C. 1972; definitions
Mich. Comp. Laws § 445.1860— Written complaint alleging violation of act; duty of commissioner
Mich. Comp. Laws § 445.1861— Action by attorney general, prosecuting attorney, or borrower; recovery of interest or other charges; attorney fees and court costs; class action
Mich. Comp. Laws § 445.1862— Violation of act; exceptions
Mich. Comp. Laws § 445.1863— Enforcement of other laws not limited
Mich. Comp. Laws § 445.1864— Validity of transactions, rates of interest, fees, or charges