Act
Regulatory loan act
- Mich. Comp. Laws § 493.1— Short title; definitions
- Mich. Comp. Laws § 493.2— Business of making loans; license required; application for license; oath; form and contents; fees; proof of net worth
- Mich. Comp. Laws § 493.3— Licenses; bond of applicant; approval; conditions
- Mich. Comp. Laws § 493.4— Investigation; findings; issuance or denial of license; notice; transcript of decision and findings
- Mich. Comp. Laws § 493.5— Licenses; contents; posting; transfer; assignment
- Mich. Comp. Laws § 493.6— Net worth; additional bond; filing
- Mich. Comp. Laws § 493.7— Changing name or place of business; procedure; activities at more than 1 place of business; ceasing to engage in activities subject to act
- Mich. Comp. Laws § 493.8— Annual establishment of fees schedule; bond; action for recovery of fees or penalties; fees nonrefundable; report; disposition and use of money received
- Mich. Comp. Laws § 493.9— Revocation, suspension, or surrender of license; reinstatement or issuance of new license; transcript of order
- Mich. Comp. Laws § 493.9a— Cease and desist order; grounds; notice; failure to appear at hearing; findings; effective date and duration of order
- Mich. Comp. Laws § 493.9b— Investigation or examination by commissioner; complaint or action; suspension of license; request for hearing; duration of suspension
- Mich. Comp. Laws § 493.9c— Fraud
- Mich. Comp. Laws § 493.9d— Hearing; decision; findings; judicial review; stay
- Mich. Comp. Laws § 493.9e— Enforcement of order; jurisdiction
- Mich. Comp. Laws § 493.9f— Violation as misdemeanor; penalty
- Mich. Comp. Laws § 493.9g— Violation of order; exceptions
- Mich. Comp. Laws § 493.10— Commissioner of state banking department; authority to investigate business and examine records; witnesses; examination of licensee; construction of section; disposition of fees
- Mich. Comp. Laws § 493.11— Books, accounts, and records of licensee; preservation and accessibility; filing financial statement with commissioner; reports
- Mich. Comp. Laws § 493.12— Statements or representations by licensee; lien on real estate; confession of judgment or power of attorney prohibited; note or evidence of indebtedness; blanks; discrimination on basis of sex or marital status prohibited; knowingly permitting person to violate order; fee; conditions
- Mich. Comp. Laws § 493.12a— False, misleading, deceptive, or irresponsible advertising unlawful; definition; requirements for advertising
- Mich. Comp. Laws § 493.12c— False, misleading, deceptive, or irresponsible advertising; report to attorney general; action to restrain by temporary or permanent injunction; costs; civil penalty; notice to licensee; assurance of discontinuance; violation subject to civil penalty; jurisdiction, continuance of cause, and petition for recovery of civil penalty; effect of action or failure to act by commissioner
- Mich. Comp. Laws § 493.12d— Action to enjoin licensee from advertising; circuit court
- Mich. Comp. Laws § 493.13— Limitation on amount of loan and interest charge; obligation under more than 1 loan contract; computation and payment of charges; loan processing fee; fees; amount other than or in excess of charges permitted by act; penalties; “open-end credit” defined
- Mich. Comp. Laws § 493.13a— Credit life insurance; other insurance
- Mich. Comp. Laws § 493.14— Licensee; duties
- Mich. Comp. Laws § 493.14a— Compliance with federal consumer credit protection act
- Mich. Comp. Laws § 493.15— Contract in compliance with retail installment sales act or home improvement finance act
- Mich. Comp. Laws § 493.15a— Regulatory loan contract; nonperformance by borrower; advances by licensee; termination of insurance upon reinstatement of contractual duties by borrower
- Mich. Comp. Laws § 493.17— Assignment or order for payment of compensation to secure loan invalid; validity of chattel mortgage or lien on household goods; married borrower; signatures; written assent of spouse
- Mich. Comp. Laws § 493.18— Unlicensed persons; limitation on interest, discount, or consideration; applicability of act to loans made in another state or country
- Mich. Comp. Laws § 493.19— Violation as misdemeanor; penalty
- Mich. Comp. Laws § 493.20— Businesses exempt from act
- Mich. Comp. Laws § 493.21— Enforcement of act; rules
- Mich. Comp. Laws § 493.22— Amendments or repeals of act; impairment of obligation
- Mich. Comp. Laws § 493.24— Review of decisions and regulations; limitations; method; jurisdiction of courts