2010 Michigan Compiled Laws
Chapter 487 - FINANCIAL INSTITUTIONS
Act 244 of 2005 - DEFERRED PRESENTMENT SERVICE TRANSACTIONS ACT (487.2121 - 487.2173)
244-2005-4 - ARTICLE 4 (487.2165...487.2173)
Section 487.2168 - Violations; civil fines.

Sec. 48.

(1) If the commissioner finds that a person has violated this act, state or federal law, or an applicable rule or regulation, the commissioner may order the person to pay a civil fine of not less than $1,000.00 or more than $10,000.00 for each violation. However, if the commissioner finds that a person has violated this act and that the person knew or reasonably should have known that he or she was in violation of this act, the commissioner may order the person to pay a civil fine of not less than $5,000.00 or more than $50,000.00 for each violation. The commissioner may also order the person to pay the costs of the investigation.

(2) A civil fine assessed under subsection (1) may be sued for and recovered by and in the name of the commissioner and may be collected and enforced by summary proceedings by the attorney general. In determining the amount of a fine, the commissioner shall consider the extent to which the violation was a knowing and willful violation, the extent of the injury suffered because of the violation, the corrective action taken by the licensee to ensure that the violation will not be repeated, and the record of the licensee in the complying with this act.

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