MCL - Index of Chapter 493
NOTE: Dates reflect any modification to item, not necessarily a change in law.
Title | Subject |
---|---|
Chapter 493 | REGULATORY LOANS |
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Section 493.1a | Repealed. 2001, Act 270, Imd.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. |
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; assets excluded from computation. |
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; limitation on fees; annual report; additional reports; false statement as felony. |
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 contract not affected; lost or destroyed license or registration certificate. |
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 for transfer. |
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 contracts. |
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; disposition and use of fees and expenses; action for recovery of fees or expenses. |
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. |
Act 75 of 2009 | MORTGAGE LOAN ORIGINATOR LICENSING ACT (493.131 - 493.171) |
Section 493.131 | Short title. |
Section 493.133 | Definitions. |
Section 493.135 | Engaging in business of mortgage loan originator; license required; exemptions; independent contractor loan processor or underwriter; establishment of licensing rules and interim procedures. |
Section 493.135a | Registered mortgage loan originator; temporary authority; requirements; time period; "state" defined. |
Section 493.135b | Out of state license; temporary authority; requirements; time period; "state" defined. |
Section 493.135c | Temporary authority; subject to laws of this state. |
Section 493.137 | Application; form; fee; criminal history check; relationships or contracts with nationwide mortgage licensing system and registry; furnishing certain information; use. |
Section 493.139 | Issuance of mortgage loan originator license; findings; conviction. |
Section 493.141 | Prelicensing education requirements. |
Section 493.143 | Qualified written test. |
Section 493.145 | Annual renewal; expiration; reinstatement. |
Section 493.147 | Continuing education requirements. |
Section 493.149 | Fees; reports; penalties; deposit of money in MBLSLA fund; limitation on fee levels. |
Section 493.151 | Mortgage loan originators; license and registration through nationwide mortgage licensing system and registry; rules. |
Section 493.153 | Process for challenging information entered. |
Section 493.155 | Powers of commissioner; finding of violation or noncompliance; fine. |
Section 493.157 | Fraud; notice of intent to prohibit licensure; contents; hearing; order; service; application to terminate order; imminent threat of financial loss to customers; conviction of felony; mailing of notice or issued to employer or principal; decision; judicial review; enforcement; violation of final order; "fraud" defined. |
Section 493.159 | Surety bond. |
Section 493.161 | Privacy or confidentiality of information or material. |
Section 493.163 | Investigations and examinations; access to books and records; reports; control of access to documents or records; duties and authority of commissioner; prohibited conduct by licensed mortgage loan originator or person subject to investigation. |
Section 493.165 | Licensed mortgage loan originator; prohibited conduct. |
Section 493.167 | Reports of condition. |
Section 493.169 | Report of violations; rules. |
Section 493.171 | Unique identifier of originator of residential mortgage loan. |