Search Results
Public Act Number: 270
Public Act Year: 2001
Document Type(s): MCLs
Public Act Year: 2001
Document Type(s): MCLs
(25 results found)
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| Document | Type | Description |
|---|---|---|
| Act 21 of 1939 | Statute | REGULATORY LOAN ACT (493.1 - 493.26) |
| Section 493.1 | Section | Short title; definitions. |
| Section 493.2 | Section | Business of making loans; license required; application for license; oath; form and contents; fees; proof of net worth. |
| Section 493.3 | Section | Licenses; bond of applicant; approval; conditions. |
| Section 493.4 | Section | Investigation; findings; issuance or denial of license; notice; transcript of decision and findings. |
| Section 493.5 | Section | Licenses; contents; posting; transfer; assignment. |
| Section 493.6 | Section | Net worth; additional bond; filing. |
| Section 493.7 | Section | Changing name or place of business; procedure; activities at more than 1 place of business; ceasing to engage in activities subject to act. |
| Section 493.8 | Section | Annual establishment of fees schedule; bond; action for recovery of fees or penalties; fees nonrefundable; report; disposition and use of money received. |
| Section 493.9 | Section | Revocation, suspension, or surrender of license; reinstatement or issuance of new license; transcript of order. |
| Section 493.10 | Section | Commissioner of state banking department; authority to investigate business and examine records; witnesses; examination of licensee; construction of section; disposition of fees. |
| Section 493.11 | Section | Books, accounts, and records of licensee; preservation and accessibility; filing financial statement with commissioner; reports. |
| Section 493.12 | Section | 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. |
| Section 493.12a | Section | False, misleading, deceptive, or irresponsible advertising unlawful; definition; requirements for advertising. |
| Section 493.12c | Section | 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. |
| Section 493.12d | Section | Action to enjoin licensee from advertising; circuit court. |
| Section 493.13 | Section | 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. |
| Section 493.13a | Section | Credit life insurance; other insurance. |
| Section 493.14 | Section | Licensee; duties. |
| Section 493.14a | Section | Compliance with federal consumer credit protection act. |
| Section 493.15 | Section | Contract in compliance with retail installment sales act or home improvement finance act. |
| Section 493.15a | Section | Regulatory loan contract; nonperformance by borrower; advances by licensee; termination of insurance upon reinstatement of contractual duties by borrower. |
| Section 493.17 | Section | 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. |
| Section 493.18 | Section | Unlicensed persons; limitation on interest, discount, or consideration; applicability of act to loans made in another state or country. |
| Section 493.21 | Section | Enforcement of act; rules. |