There is a newer version of the Michigan Compiled Laws
2010 Michigan Compiled Laws
Chapter 445 - TRADE AND COMMERCE
Act 424 of 1984 - RENTAL-PURCHASE AGREEMENT ACT (445.951 - 445.970)
RENTAL-PURCHASE AGREEMENT ACTAct 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
- Section 445.951 - Short title.
- Section 445.952 - Definitions.
- Section 445.953 - Rental-purchase agreement; form; contents; information requirements; separate form; disclosure of additional information.
- Section 445.954 - Amount necessary to acquire ownership; amount applied toward purchase price.
- Section 445.955 - Advertising requirements; requirements as to items displayed or offered under rental-purchase agreement.
- Section 445.956 - Prohibited provisions in rental-purchase agreement.
- Section 445.957 - Prohibited requirements.
- Section 445.958 - Failure to make timely periodic payments; rights of lessee; reinstatement fee; delivery fee; same or substitute item provided on reinstatement.
- Section 445.959 - 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 - Assurance of discontinuance.
- Section 445.961 - 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 - 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 - Class action for actual damages; order; appointment of receiver; sequestration of assets; cost of notice; effect of bona fide error; limitations.
- Section 445.964 - 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 - Mailing copy of complaint, judgment, decree, or order to attorney general.
- Section 445.966 - Payment of filing fees.
- Section 445.967 - Aid and assistance of law enforcement officer.
- Section 445.968 - Investigation and prosecution by prosecuting attorney.
- Section 445.969 - Other causes of action not affected; inconsistent ordinance or regulation prohibited.
- Section 445.970 - Example of form satisfying requirements of act.
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