RENTAL-PURCHASE AGREEMENT ACT
Act 424 of 1984
AN ACT to define and regulate rental-purchase agreements; to require certain disclosures; and to provide for remedies and penalties.
History: 1984, Act 424, Eff. Mar. 29, 1985
© 2009 Legislative Council, State of Michigan
The People of the State of Michigan enact:
| Section 445.951 | Section | Short title. |
| Section 445.952 | Section | Definitions. |
| Section 445.953 | Section | Rental-purchase agreement; form; contents; information requirements; separate form; disclosure of additional information. |
| Section 445.954 | Section | Amount necessary to acquire ownership; amount applied toward purchase price. |
| Section 445.955 | Section | Advertising requirements; requirements as to items displayed or offered under rental-purchase agreement. |
| Section 445.956 | Section | Prohibited provisions in rental-purchase agreement. |
| Section 445.957 | Section | Prohibited requirements. |
| Section 445.958 | Section | Failure to make timely periodic payments; rights of lessee; reinstatement fee; delivery fee; same or substitute item provided on reinstatement. |
| Section 445.959 | Section | Temporary or permanent injunction; venue; costs; civil penalty; notice of intended action; opportunity to cease and desist or to confer with attorney general; notice of alleged violation; civil penalty for knowing violation. |
| Section 445.960 | Section | Assurance of discontinuance. |
| Section 445.961 | Section | Subpoena; service and contents of notice; extension of reporting date; modification or setting aside of notice and subpoena; confidentiality; disclosures; disclosure as misdemeanor; penalty. |
| Section 445.962 | Section | Compliance with terms of notice; prohibited conduct; civil penalty; petition for order to enforce compliance; violation of final order as civil contempt; enjoining person from doing business in state. |
| Section 445.963 | Section | Class action for actual damages; order; appointment of receiver; sequestration of assets; cost of notice; effect of bona fide error; limitations. |
| Section 445.964 | Section | Action for declaratory judgment or injunction; action for actual damages and attorneys' fees; class action for actual damages; order; appointment of receiver; sequestration of assets; cost of notice to class; effect of bona fide effort; limitations; defense or counterclaim. |
| Section 445.965 | Section | Mailing copy of complaint, judgment, decree, or order to attorney general. |
| Section 445.966 | Section | Payment of filing fees. |
| Section 445.967 | Section | Aid and assistance of law enforcement officer. |
| Section 445.968 | Section | Investigation and prosecution by prosecuting attorney. |
| Section 445.969 | Section | Other causes of action not affected; inconsistent ordinance or regulation prohibited. |
| Section 445.970 | Section | Example of form satisfying requirements of act. |