2006 Michigan Compiled Laws - Mich. Comp. Laws § 554.814 Order temporarily suspending repayment of entrance fee.

Sec. 14.

The registrant may temporarily suspend repayment of an entrance fee under an order of a court or the bureau for not more than 180 days, upon a showing of good cause by the registrant and proof that further payment would jeopardize the care to members in the facility. The order may be extended upon a showing of substantial progress in resolving the financial difficulties of the registrant.

History: 1976, Act 440, Eff. July 1, 1977
Compiler's Notes: For transfer of statutory authority, powers, duties, and functions of the corporations, securities and land development bureau to the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at § 445.2003 of the Michigan compiled laws.