There is a newer version of the Michigan Compiled Laws
2014 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 487.2131 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.
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