Act

The secondary mortgage loan act

Mich. Comp. Laws § 493.51— Short title; definitions
Mich. Comp. Laws § 493.52— Broker, lender, or servicer; license or registration required; exemption; use of name or assumed name
Mich. Comp. Laws § 493.53— Application for license or registration; form and contents
Mich. Comp. Laws § 493.53a— Broker, lender, or servicer; registration with commissioner; form
Mich. Comp. Laws § 493.54— Fees
Mich. Comp. Laws § 493.55— Investigation; issuance or refusal to issue license
Mich. Comp. Laws § 493.56— License or registration; filing application or renewal; bond or letter of credit; claims filed against proof of financial responsibility; maintenance of net worth; determination; assets excluded from computation
Mich. Comp. Laws § 493.56a— Registration or license; expiration; renewal; filing financial statement; exemption; fees; failure to submit reports or fees; disposition of money received; "MBLSLA fund" defined; limitation on fees; annual report; additional reports; false statement as felony
Mich. Comp. Laws § 493.56b— Powers of commissioner
Mich. Comp. Laws § 493.58— Summary suspension of license or registration; order; affidavit; service; filing request for hearing; duration of license suspension; record
Mich. Comp. Laws § 493.59— Order in addition to other legal actions
Mich. Comp. Laws § 493.60— Complaint; forwarding to licensee or registrant; response; investigation or administrative action
Mich. Comp. Laws § 493.61— Suspension, revocation, or refusal to issue or renew license or registration; notice; hearing; findings; facts or conditions; surrender of license or registration; preexisting contract not affected; lost or destroyed license or registration certificate
Mich. Comp. Laws § 493.62— Contracts or commitments made prior to suspension or revocation
Mich. Comp. Laws § 493.62a— Conservator; appointment; reimbursement of expenses; powers; termination; disposition of compensation and expenses; disbursement of funds and interest
Mich. Comp. Laws § 493.63— Duration of license or registration; reinstatement of suspended license or registration; issuing new license or registration; consent required for transfer or assignment; requirements for transfer
Mich. Comp. Laws § 493.64— Order to cease and desist; issuance; conditions; notice; hearing; failure to appear as consent; service or order; effective date and enforcement
Mich. Comp. Laws § 493.64a— Fraud
Mich. Comp. Laws § 493.64b— Hearing; final decision; judicial review; stay of commissioner's order
Mich. Comp. Laws § 493.64c— Enforcement of order; jurisdiction
Mich. Comp. Laws § 493.64d— Violation as misdemeanor; penalty
Mich. Comp. Laws § 493.64e— Violation of order; exceptions
Mich. Comp. Laws § 493.65— Subpoena of witnesses and evidence; oaths and affirmations; certain conduct as misdemeanor
Mich. Comp. Laws § 493.66— Failure to testify or comply with subpoena; court order; contempt
Mich. Comp. Laws § 493.67— Maintaining records relating to conduct of business; availability; statement of borrower's account; ledger history; obligation of servicer; fee prohibited
Mich. Comp. Laws § 493.68— Documents; preservation; other books, accounts, records, and documents
Mich. Comp. Laws § 493.70— Making or offering to make secondary mortgage loan; terms and conditions
Mich. Comp. Laws § 493.71— Interest rate; limitation; computation; prepaid finance charge or fee
Mich. Comp. Laws § 493.72— Charges and fees includable in principal; interest authorized by law; sale of insurance; hazard insurance; charges permitted by federal lending program
Mich. Comp. Laws § 493.73— Instrument evidencing or securing secondary mortgage; contents
Mich. Comp. Laws § 493.74— Licensee or registrant; prohibited conduct
Mich. Comp. Laws § 493.75— Violation of consumer credit protection act as violation of act
Mich. Comp. Laws § 493.76— Advertising; prohibited conduct
Mich. Comp. Laws § 493.77— Violation of act; making secondary mortgage loans without license as misdemeanor; penalty; civil fine; actions
Mich. Comp. Laws § 493.78— Rules
Mich. Comp. Laws § 493.79— Construction of act; applicability
Mich. Comp. Laws § 493.79a— Applicability of act to nonprofit corporation
Mich. Comp. Laws § 493.80— Persons permitted to make secondary mortgage loans
Mich. Comp. Laws § 493.81— Powers and duties of attorney general