MCL - Index of Act 21 of 1939
NOTE: Dates reflect any modification to item, not necessarily a change in law.
| Title | Subject |
|---|---|
| Act 21 of 1939 | REGULATORY LOAN ACT (493.1 - 493.26) |
| Section 493.1 | Short title; definitions. |
| Section 493.1a | Repealed. 2001, Act 270, Imd. Eff. Jan. 11, 2002. |
| Section 493.2 | Business of making loans; license required; application for license; oath; form and contents; fees; proof of net worth. |
| Section 493.3 | Licenses; bond of applicant; approval; conditions. |
| Section 493.4 | Investigation; findings; issuance or denial of license; notice; transcript of decision and findings. |
| Section 493.5 | Licenses; contents; posting; transfer; assignment. |
| Section 493.6 | Net worth; additional bond; filing. |
| Section 493.7 | Changing name or place of business; procedure; activities at more than 1 place of business; ceasing to engage in activities subject to act. |
| Section 493.8 | Annual establishment of fees schedule; bond; action for recovery of fees or penalties; fees nonrefundable; report; disposition and use of money received. |
| Section 493.9 | Revocation, suspension, or surrender of license; reinstatement or issuance of new license; transcript of order. |
| Section 493.9a | Cease and desist order; grounds; notice; failure to appear at hearing; findings; effective date and duration of order. |
| Section 493.9b | Investigation or examination by commissioner; complaint or action; suspension of license; request for hearing; duration of suspension. |
| Section 493.9c | Fraud. |
| Section 493.9d | Hearing; decision; findings; judicial review; stay. |
| Section 493.9e | Enforcement of order; jurisdiction. |
| Section 493.9f | Violation as misdemeanor; penalty. |
| Section 493.9g | Violation of order; exceptions. |
| Section 493.10 | Commissioner of state banking department; authority to investigate business and examine records; witnesses; examination of licensee; construction of section; disposition of fees. |
| Section 493.11 | Books, accounts, and records of licensee; preservation and accessibility; filing financial statement with commissioner; reports. |
| Section 493.12 | Statements or representations by licensee; lien on real estate; confession of judgment or power of attorney prohibited; note or evidence of indebtedness; blanks; discrimination on basis of sex or marital status prohibited; knowingly permitting person to violate order; fee; conditions. |
| Section 493.12a | False, misleading, deceptive, or irresponsible advertising unlawful; definition; requirements for advertising. |
| Section 493.12b | Repealed. 1991, Act 14, Eff. Oct. 1, 1991. |
| Section 493.12c | False, misleading, deceptive, or irresponsible advertising; report to attorney general; action to restrain by temporary or permanent injunction; costs; civil penalty; notice to licensee; assurance of discontinuance; violation subject to civil penalty; jurisdiction, continuance of cause, and petition for recovery of civil penalty; effect of action or failure to act by commissioner. |
| Section 493.12d | Action to enjoin licensee from advertising; circuit court. |
| Section 493.13 | Limitation on amount of loan and interest charge; obligation under more than 1 loan contract; computation and payment of charges; loan processing fee; fees; amount other than or in excess of charges permitted by act; penalties; “open-end credit” defined. |
| Section 493.13a | Credit life insurance; other insurance. |
| Section 493.14 | Licensee; duties. |
| Section 493.14a | Compliance with federal consumer credit protection act. |
| Section 493.15 | Contract in compliance with retail installment sales act or home improvement finance act. |
| Section 493.15a | Regulatory loan contract; nonperformance by borrower; advances by licensee; termination of insurance upon reinstatement of contractual duties by borrower. |
| Section 493.16 | Repealed. 1978, Act 528, Eff. Mar. 30, 1979. |
| Section 493.17 | Assignment or order for payment of compensation to secure loan invalid; validity of chattel mortgage or lien on household goods; married borrower; signatures; written assent of spouse. |
| Section 493.18 | Unlicensed persons; limitation on interest, discount, or consideration; applicability of act to loans made in another state or country. |
| Section 493.19 | Violation as misdemeanor; penalty. |
| Section 493.20 | Businesses exempt from act. |
| Section 493.21 | Enforcement of act; rules. |
| Section 493.22 | Amendments or repeals of act; impairment of obligation. |
| Section 493.23 | Repealed. 1991, Act 14, Eff. Oct. 1, 1991. |
| Section 493.24 | Review of decisions and regulations; limitations; method; jurisdiction of courts. |
| Section 493.25 | Repealed. 2001, Act 270, Imd. Eff. Jan. 11, 2002. |
| Section 493.26 | Repealed. 1991, Act 14, Eff. Oct. 1, 1991. |