There is a newer version of the Michigan Compiled Laws
2010 Michigan Compiled Laws
Chapter 487 - FINANCIAL INSTITUTIONS
Act 244 of 2005 - DEFERRED PRESENTMENT SERVICE TRANSACTIONS ACT (487.2121 - 487.2173)
244-2005-2 - ARTICLE 2 (487.2131...487.2142)
DEFERRED PRESENTMENT SERVICE TRANSACTIONS ACT (EXCERPT)Act 244 of 2005 ARTICLE 2
- Section 487.2131 - Business of providing deferred presentment service transactions; license required; scope of act; application process and timeline; bulletin, order, or rule.
- Section 487.2132 - Licensure requirements.
- Section 487.2133 - Application; writing; oath; form; information; fee.
- Section 487.2134 - License fees; disposition; surety bond.
- Section 487.2135 - Issuance of license upon investigation that requirements satisfied; posting copy of license.
- Section 487.2136 - Denial of application or failure to act within certain time period; hearing.
- Section 487.2137 - License not transferable or assignable; change in control; duties of licensee; request for information or documentation; "control" defined.
- Section 487.2138 - Report describing certain event.
- Section 487.2139 - Expiration and renewal of license.
- Section 487.2140 - Enforcement and implementation of act; issuance of orders and rules; correction of inaccurate information; duties of licensee if database not operational; examination of business, books, and records.
- Section 487.2141 - Books, accounts, and records; preservation.
- Section 487.2142 - Development, implementation, and maintenance of database.
Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.