Go To Top capitol dome
Michigan Legislature
Michigan Compiled Laws Complete Through PA 255 of 2017
House: Adjourned until Tuesday, January 23, 2018 6:00:00 PM
Senate: Adjourned until Tuesday, January 23, 2018 10:00:00 AM

Michigan Legislature

Main Content

Section 445.859

Jump to the first occurrence of "RETAIL INSTALLMENT SALES ACT"

RETAIL INSTALLMENT SALES ACT (EXCERPT)
Act 224 of 1966


445.859 Installment contract or retail charge agreement; delinquency and collection charge.

Sec. 9.

The holder of an installment contract or retail charge agreement, or retail charge agreement including a contract subject to section 23, if it so provides, may collect a delinquency and collection charge on each installment in default for a period of more than 10 days. A delinquency and collection charge is not a liquidated damage.


History: 1966, Act 224, Eff. Mar. 10, 1967 ;-- Am. 1993, Act 112, Eff. Sept. 19, 1993 ;-- Am. 1995, Act 167, Eff. Mar. 28, 1996


© 2017 Legislative Council, State of Michigan

up icon