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RETAIL INSTALLMENT SALES ACT (EXCERPT)
Act 224 of 1966
445.860 Retail installment contracts; statement of dates, payments and unpaid balances; receipt.
Upon written request of the buyer, the holder of a retail installment contract shall give or forward to the buyer a written statement of the dates and amounts of payments and the total amount unpaid under the contract. A buyer shall be given a written receipt for any payment when made in cash. The statement or receipt shall be given the buyer once without charge; if any additional statement is requested by the buyer, it shall be supplied by the holder at a charge not in excess of $1.00 for each additional statement or receipt so supplied.
History: 1966, Act 224, Eff. Mar. 10, 1967
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