MCL - Index of Act 244 of 2005
NOTE: Dates reflect any modification to item, not necessarily a change in law.
| Title | Subject |
|---|---|
| Act 244 of 2005 | DEFERRED PRESENTMENT SERVICE TRANSACTIONS ACT (487.2121 - 487.2173) |
| 244-2005-1 | ARTICLE 1 (487.2121...487.2122) |
| Section 487.2121 | Short title. |
| Section 487.2122 | Definitions. |
| 244-2005-2 | ARTICLE 2 (487.2131...487.2142) |
| Section 487.2131 | Business of providing deferred presentment service transactions; license required; scope of act; application process and timeline; bulletin, order, or rule. |
| Section 487.2132 | Licensure requirements. |
| Section 487.2133 | Application; writing; oath; form; information; fee. |
| Section 487.2134 | License fees; disposition; surety bond. |
| Section 487.2135 | Issuance of license upon investigation that requirements satisfied; posting copy of license. |
| Section 487.2136 | Denial of application or failure to act within certain time period; hearing. |
| Section 487.2137 | License not transferable or assignable; change in control; duties of licensee; request for information or documentation; "control" defined. |
| Section 487.2138 | Report describing certain event. |
| Section 487.2139 | Expiration and renewal of license. |
| Section 487.2140 | Enforcement and implementation of act; issuance of orders and rules; correction of inaccurate information; duties of licensee if database not operational; examination of business, books, and records. |
| Section 487.2141 | Books, accounts, and records; preservation. |
| Section 487.2142 | Development, implementation, and maintenance of database. |
| 244-2005-3 | ARTICLE 3 (487.2151...487.2160) |
| Section 487.2151 | Notice; posting; form. |
| Section 487.2152 | Written deferred presentment service agreement; signatures; provisions; arbitration. |
| Section 487.2153 | Transaction; limitation on amount; service fee; conditions prohibiting entering transaction; duties of licensee; prohibited conduct; sign. |
| Section 487.2154 | Customer eligibility; verification; use of database; fee; submission of information to database; closure of transaction. |
| Section 487.2155 | Renewal or extension of agreement; repayment option; conditions; terms; notice; satisfaction of drawer's obligation; deposit of check held in connection with transaction; return of check; payment by debit card; "telephone-initiated entry" defined.. |
| Section 487.2156 | Violation of act. |
| Section 487.2157 | Rescission of agreement; redemption of check by drawer. |
| Section 487.2158 | Endorsement of check; returned check charge; liability for dishonored check. |
| Section 487.2159 | Agreements; maintenance; availability for examination; rejected applications. |
| Section 487.2160 | Prohibited conduct. |
| 244-2005-4 | ARTICLE 4 (487.2165...487.2173) |
| Section 487.2165 | Customer complaint; filing; investigation or examination by commissioner; subpoena; noncompliance. |
| Section 487.2166 | Cease and desist order. |
| Section 487.2167 | Suspension, revocation, or termination of license. |
| Section 487.2168 | Violations; civil fines. |
| Section 487.2169 | Fraud. |
| Section 487.2170 | Hearing. |
| Section 487.2171 | Rules; report. |
| Section 487.2172 | Person providing services before effective date of act; compliance. |
| Section 487.2173 | Civil cause of action; damages. |