There is a newer version of the Michigan Compiled Laws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)
244-2005-3 - ARTICLE 3 (487.2151...487.2160)
DEFERRED PRESENTMENT SERVICE TRANSACTIONS ACT (EXCERPT)Act 244 of 2005 ARTICLE 3
- Section 487.2151 - Notice; posting; form.
- Section 487.2152 - Written deferred presentment service agreement; signatures; provisions; arbitration.
- Section 487.2153 - Transaction; limitation on amount; service fee; conditions prohibiting entering transaction; duties of licensee; prohibited conduct; sign.
- Section 487.2154 - Customer eligibility; verification; use of database; fee; submission of information to database; closure of transaction.
- Section 487.2155 - Renewal or extension of agreement; repayment option; conditions; terms; notice; satisfaction of drawer's obligation.
- Section 487.2156 - Violation of act.
- Section 487.2157 - Rescission of agreement; redemption of check by drawer.
- Section 487.2158 - Endorsement of check; returned check charge; liability for dishonored check.
- Section 487.2159 - Agreements; maintenance; availability for examination; rejected applications.
- Section 487.2160 - Prohibited conduct.
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