MCL - Act 379 of 1984
AN ACT to define and regulate certain credit card transactions, agreements, charges, and disclosures; to provide for the powers and duties of certain state officers and entities; to provide for the promulgation of rules; and to provide remedies and penalties.
History: 1984, Act 379, Imd. Eff. Dec. 28, 1984
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Am. 2020, Act 76, Imd. Eff. Apr. 2, 2020
| Document | Type | Description |
|---|---|---|
| Section 493.101 | Section | Definitions. |
| Section 493.102 | Section | Credit card arrangement; license required; terms and conditions. |
| Section 493.103 | Section | Application for license; oath; form; contents; fees; net worth requirements; rules. |
| Section 493.104 | Section | Investigation; finding; issuance of license; refusal to issue license; expiration of license. |
| Section 493.105 | Section | Duties of commissioner upon refusal to issue license. |
| Section 493.106 | Section | 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 | Section | 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 | Section | Subpoena of witnesses and evidence; oaths and affirmations; noncompliance; order; contempt. |
| Section 493.109 | Section | Books, accounts, and records; maintenance, preservation, and availability; audit; cost. |
| Section 493.110 | Section | Maximum interest; computation; fee; offer of loan or credit in connection with other accounts, services, or similar agreements; prohibited conditions. |
| Section 493.111 | Section | Truth in lending act; disclosures, information, and notices; applicability. |
| Section 493.112 | Section | Wilful and intentional violation as misdemeanor; conduct barring recovery and entitling consumer to attorney fees and court costs; authorized actions. |
| Section 493.113 | Section | Rules. |
| Section 493.114 | Section | Exemptions; credit card or charge card issued prior to effective date of act. |