161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)

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  4. 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)

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Section
487.2051

Short Title.

Section
487.2052

Definitions.

Section
487.2053

License Required to Engage in Business Activity; Exceptions.

Section
487.2054

License Application.

Section
487.2055

License Fee; Investigation Fee; Financial Statements; Net Worth Requirements.

Section
487.2056

Surety Bond or Letter of Credit.

Section
487.2057

Investigation of License Applicant by Commissioner; Issuance and Delivery of License; Expiration of License; Renewal of License; Fee; Penalty for Delinquent Payment.

Section
487.2058

License Certificate; Availability of Copy; Transferability; Changing Name or Place of Business; Operating One Place of Business Under Same License; Additional Place of Business; Ceasing Business Activities.

Section
487.2059

Compliance; Exemption of Licensee From Certain Provisions of Financial Licensing Acts; Purchase of Certain Contracts; Loans; Employment of Individual as Loan Officer to Originate Mortgage Loans or Secondary Mortgage Loan Officer to Originate Secondary Mortgage Loans; "Employ" Defined.

Section
487.2060

Suspension or Revocation of License; Notice; Hearing; Determination; Appeal; Grounds for Suspending, Revoking, or Refusing to Renew License; Suspension or Revocation of Activities; Investigations, Examinations, and Hearings; Evidence; Failure to Comply With Subpoena; Cease and Desist Order.

Section
487.2060a

Request for Reconsideration.

Section
487.2060b

Hearing; Judicial Review.

Section
487.2060c

Enforcement of Notice or Order.

Section
487.2060d

Summary Suspension; Order; Hearing; Record.

Section
487.2060e

Summary Suspension Order, Cease and Desist Order, or Injunctive Relief as Additional Legal Action.

Section
487.2060f

Investigation or Examination by Commissioner; Complaint or Action; Suspension of License; Request for Hearing; Duration of Suspension.

Section
487.2060g

Fraud or Money Laundering; Definitions.

Section
487.2060h

Hearing; Decision; Findings; Judicial Review; Stay.

Section
487.2060i

Enforcement of Order; Jurisdiction.

Section
487.2060j

Violation as Misdemeanor; Penalty.

Section
487.2060k

Violation of Order; Exceptions.

Section
487.2061

Annual Schedule of Fees; Fees Nonrefundable; Action for Recovery of Fees or Penalties; Disposition of Money Received.

Section
487.2062

Investigation of Business Activities; Examination of Books, Accounts, Records, and Files; Additional Reports; Audit and Management Letter.

Section
487.2063

Repealed. 1999, Act 275, Imd. Eff. Jan. 5, 2000.

Section
487.2064

Records.

Section
487.2065

Annual Report; Failure to File Report; Penalty.

Section
487.2066

Conservatorship or Receivership.

Section
487.2066a

Licensee Engaged in Loan Servicing Activities; Appointment of Conservator or Receiver.

Section
487.2066b

Powers and Duties of Conservator or Receiver.

Section
487.2067

Prohibited Activities or Practices.

Section
487.2068

Rules.

Section
487.2069

Obligation of Contract Party Not Impaired or Affected.

Section
487.2070

Action by Person, County Prosecuting Attorney, or Attorney General.

Section
487.2071

Effective Date.

Section
487.2072

Conditional Effective Date.