HOUSE BILL No. 5491


     December 11, 2001, Introduced by Reps. George, Tabor, Bernero, Faunce, Spade, Ehardt and Voorhees and referred to the Committee on
Commerce.


        A bill to amend 1984 PA 379, entitled

   "An act to define and regulate certain credit card transactions,
   agreements, charges, and disclosures; to prescribe the powers and
   duties of the financial institutions bureau and certain state
   agencies; to provide for the promulgation of rules; and to pro-
   vide for fines and penalties,"

   (MCL 493.101 to 493.114) by adding section 10a.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

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           SEC. 10A.  ON A LOAN MADE OR CREDIT EXTENDED UNDER A CREDIT

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      CARD ARRANGEMENT, FOR PAYMENTS MADE BY MAIL, A LICENSEE SHALL

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      CONSIDER THE DATE OF THE PAYMENT TO BE THE POSTMARK DATE STAMPED

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      ON THE PAYMENT ENVELOPE.












   05428'01          Final page.                            SAT