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)
Section 487.2160 - Prohibited conduct.
DEFERRED PRESENTMENT SERVICE TRANSACTIONS ACT (EXCERPT)Act 244 of 2005
487.2160 Prohibited conduct.
Sec. 40.
A licensee shall not do any of the following:
(a) Enter into a tying arrangement through which the licensee conditions the sale of 1 financial service to a consumer on the agreement by the consumer to purchase 1 or more other financial services from the licensee or an affiliate or subsidiary of the licensee.
(b) Knowingly permit a person to violate an order that has been issued under this act or any other financial licensing act that prohibits that person from being employed by, an agent of, or a control person of the licensee.
History: 2005, Act 244, Imd. Eff. Nov. 28, 2005
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