2010 Michigan Compiled Laws
Chapter 445 - TRADE AND COMMERCE
Act 424 of 1984 - RENTAL-PURCHASE AGREEMENT ACT (445.951 - 445.970)
Section 445.957 - Prohibited requirements.
RENTAL-PURCHASE AGREEMENT ACT (EXCERPT)Act 424 of 1984
445.957 Prohibited requirements.
Sec. 7.
A lessor shall not require any of the following:
(a) The purchase of insurance by the lessee from the lessor of a leased item.
(b) A payment which is in excess or in addition to a normal periodic payment and which is required in order to purchase a leased item at the conclusion of the periodic payments necessary to acquire ownership.
(c) A penalty for early termination of a rental-purchase agreement or for the return of an item at any point.
(d) A processing fee of any sort.
(e) A fee for in home collection of a payment unless the lessee has expressly agreed to the fee and the amount of the fee is disclosed.
History: 1984, Act 424, Eff. Mar. 29, 1985
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