HB-4699, As Passed House, October 22, 2003

SUBSTITUTE FOR

HOUSE BILL NO. 4699

                                                                             A bill to amend 1950 (Ex Sess) PA 27, entitled                                    

"Motor vehicle sales finance act,"                                          

by amending section 36 (MCL 492.136).                                       

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

1       Sec. 36.  This act shall not affect or impair a business                    

2   conducted lawfully under  Act No.  21 of the Public Acts of 1939,           

3   as amended, being sections 493.1 to 493.26 of the Michigan                  

4   Compiled Laws, Act No.  319 of the Public Acts of 1969, as                  

5   amended, being sections 487.301 to 487.598 of the Michigan                  

6   Compiled Laws, Act No.  156 of the Public Acts of 1964, as                  

7   amended, being sections 489.501 to 489.920 of the Michigan                  

8   Compiled Laws or Act No.  285 of the Public Acts of 1925, as                

9   amended, being sections 490.1 to 490.65 of the Michigan Compiled            

10  Laws the regulatory loan act, 1939 PA 21, MCL 493.1 to 493.24,             

11  the banking code of 1999, 1999 PA 276, MCL 487.11101 to                     

1   487.15105, the savings and loan act of 1980, 1980 PA 307, MCL               

2   491.102 to 491.1202, or the credit union act.                               

3       Enacting section 1.  This amendatory act does not take                      

4   effect unless Senate Bill No. 496 of the 92nd Legislature is                

5   enacted into law.