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2015 Michigan Compiled Laws
Chapter 492 - Installment Sales of Motor Vehicles
Act 27 of 1950 (Ex. Sess.) MOTOR VEHICLE SALES FINANCE ACT (492.101 - 492.141)
Section 492.116a Unexpired insurance premiums; crediting.

MI Comp L § 492.116a (2015) What's This?

492.116a Unexpired insurance premiums; crediting.

Sec. 16a.

If unexpired insurance premiums received by the seller or holder resulting from the cancellation of insurance which was originally placed by the buyer's expense cannot be used in procuring comparable insurance as in section 16, subsection (g), such unexpired insurance premiums shall be credited to the last maturing installments under the contract.


History: Add. 1954, Act 132, Imd. Eff. Apr. 23, 1954


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