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2019 Michigan Compiled Laws
Chapter 493 - Regulatory Loans
Act 379 of 1984 Credit Card Arrangements (493.101 - 493.114)
AN ACT to define and regulate certain credit card transactions, agreements, charges, and disclosures; to prescribe the powers and duties of the financial institutions bureau and certain state agencies; to provide for the promulgation of rules; and to provide for fines and penalties.
History: 1984, Act 379, Imd. Eff. Dec. 28, 1984
- Section 493.101 Definitions.
- Section 493.102 Credit Card Arrangement; License Required; Terms and Conditions.
- Section 493.103 Application for License; Oath; Form; Contents; Fees; Net Worth Requirements; Rules.
- Section 493.104 Investigation; Finding; Issuance of License; Refusal to Issue License; Expiration of License.
- Section 493.105 Duties of Commissioner Upon Refusal to Issue License.
- Section 493.106 Suspension, Revocation, or Refusal to Renew License; Notice; Grounds; Surrender of License; Duration of License; Reinstatement or Issuance of New License; Preexisting Lawful Contracts.
- Section 493.107 Investigations and Examination of Books, Accounts, Records, and Files; Electronic Data Processing Not Prohibited; Establishment of Annual Fee Schedule; Fees Nonrefundable; Penalty; Disposition and Use of Fees and Expenses; Action for Recovery of Fees or Expenses.
- Section 493.108 Subpoena of Witnesses and Evidence; Oaths and Affirmations; Noncompliance; Order; Contempt.
- Section 493.109 Books, Accounts, and Records; Maintenance, Preservation, and Availability; Audit; Cost.
- Section 493.110 Maximum Interest; Computation; Fee; Offer of Loan or Credit in Connection With Other Accounts, Services, or Similar Agreements; Prohibited Conditions.
- Section 493.111 Truth in Lending Act; Disclosures, Information, and Notices; Applicability.
- Section 493.112 Wilful and Intentional Violation as Misdemeanor; Conduct Barring Recovery and Entitling Consumer to Attorney Fees and Court Costs; Authorized Actions.
- Section 493.113 Rules.
- Section 493.114 Exemptions; Credit Card or Charge Card Issued Prior to Effective Date of Act.
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