Michigan StatutesChapter 493 - REGULATORY LOANS
- Act 21 of 1939 - REGULATORY LOAN ACT (493.1 - 493.26)
- Section 493.1 - Short title; definitions.
- 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 bas
- 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- Section 493.12b - Repealed. 1991, Act 14, Eff.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 licen
- 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 ex
- 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- Section 493.16 - Repealed. 1978, Act 528, Eff.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- Section 493.1a - Repealed. 2001, Act 270, Imd.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 493.20 - 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.
- 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.
- Act 75 of 2009 - MORTGAGE LOAN ORIGINATOR LICENSING ACT (493.131 - 493.171)
- Act 125 of 1981 - THE SECONDARY MORTGAGE LOAN ACT (493.51 - 493.81)
- Section 493.51 - Short title; definitions.
- Section 493.52 - Broker, lender, or servicer; license or registration required; exemption; use of name or assumed name.
- Section 493.52a-493.52d - Repealed. 2009, Act 77, Eff. July 31, 2010.
- Section 493.53 - Application for license or registration; form and contents.
- Section 493.53a - Broker, lender, or servicer; registration with commissioner; form.
- Section 493.54 - Fees.
- Section 493.55 - Investigation; issuance or refusal to issue license.
- Section 493.56 - License or registration; filing application or renewal; bond or letter of credit; claims filed against proof of financial responsibility; maintenance of net worth; determination; asse
- Section 493.56a - Registration or license; expiration; renewal; filing financial statement; exemption; fees; failure to submit reports or fees; disposition of money received; "MBLSLA fund" defined; li
- Section 493.56b - Powers of commissioner.
- Section 493.57 - Repealed. 1997, Act 91, Imd. Eff. Aug. 1, 1997.
- Section 493.58 - Summary suspension of license or registration; order; affidavit; service; filing request for hearing; duration of license suspension; record.
- Section 493.59 - Order in addition to other legal actions.
- Section 493.60 - Complaint; forwarding to licensee or registrant; response; investigation or administrative action.
- Section 493.61 - Suspension, revocation, or refusal to issue or renew license or registration; notice; hearing; findings; facts or conditions; surrender of license or registration; preexisting contrac
- Section 493.62 - Contracts or commitments made prior to suspension or revocation.
- Section 493.62a - Conservator; appointment; reimbursement of expenses; powers; termination; disposition of compensation and expenses; disbursement of funds and interest.
- Section 493.63 - Duration of license or registration; reinstatement of suspended license or registration; issuing new license or registration; consent required for transfer or assignment; requirements
- Section 493.64 - Order to cease and desist; issuance; conditions; notice; hearing; failure to appear as consent; service or order; effective date and enforcement.
- Section 493.64a - Fraud.
- Section 493.64b - Hearing; final decision; judicial review; stay of commissioner's order.
- Section 493.64c - Enforcement of order; jurisdiction.
- Section 493.64d - Violation as misdemeanor; penalty.
- Section 493.64e - Violation of order; exceptions.
- Section 493.65 - Subpoena of witnesses and evidence; oaths and affirmations; certain conduct as misdemeanor.
- Section 493.66 - Failure to testify or comply with subpoena; court order; contempt.
- Section 493.67 - Maintaining records relating to conduct of business; availability; statement of borrower's account; ledger history; obligation of servicer; fee prohibited.
- Section 493.68 - Documents; preservation; other books, accounts, records, and documents.
- Section 493.69 - Repealed. 1997, Act 91, Imd. Eff. Aug. 1, 1997.
- Section 493.70 - Making or offering to make secondary mortgage loan; terms and conditions.
- Section 493.71 - Interest rate; limitation; computation; prepaid finance charge or fee.
- Section 493.72 - Charges and fees includable in principal; interest authorized by law; sale of insurance; hazard insurance; charges permitted by federal lending program.
- Section 493.73 - Instrument evidencing or securing secondary mortgage; contents.
- Section 493.74 - Licensee or registrant; prohibited conduct.
- Section 493.75 - Violation of consumer credit protection act as violation of act.
- Section 493.76 - Advertising; prohibited conduct.
- Section 493.76a - Repealed. 2009. Act 77, Eff. July 31, 2010.
- Section 493.77 - Violation of act; making secondary mortgage loans without license as misdemeanor; penalty; civil fine; actions.
- Section 493.78 - Rules.
- Section 493.79 - Construction of act; applicability.
- Section 493.79a - Applicability of act to nonprofit corporation.
- Section 493.80 - Persons permitted to make secondary mortgage loans.
- Section 493.81 - Powers and duties of attorney general.
- Act 379 of 1984 - CREDIT CARD ARRANGEMENTS (493.101 - 493.114)
- 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 contract
- 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; d
- 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.