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)
Section 487.2133 - Application; writing; oath; form; information; fee.

Sec. 13.

(1) An applicant shall submit an application for a license to the commissioner. Each application for a license shall be in writing and under oath, in a form prescribed by the commissioner, and shall include all of the following information:

(a) The name, street address, and telephone number of the business location within this state from which the applicant will offer deferred presentment service transactions, if available.

(b) The legal name, residence, street address, and telephone number and business address of the applicant and, if the applicant is not an individual, of each executive officer and each person who directly or indirectly owns or controls 10% or more of the ownership interest in the applicant.

(c) If the applicant will not operate a physical business location in this state or if in addition to the location described in subdivision (a) the applicant will make deferred presentment service transactions by other means, a detailed description of the manner in which deferred presentment service transactions will be offered to customers in this state.

(d) Any other information the commissioner considers necessary under this act.

(2) An applicant shall include an application fee in an amount determined by the commissioner with the application described in subsection (1).

History: 2005, Act 244, Imd. Eff. Nov. 28, 2005