Michigan Compiled Laws
Chapter 445 - Trade and Commerce
Act 162 of 1995 - Credit Reform Act (445.1851 - 445.1864)

Section 445.1851 - Short Title. - Sec. 1. This act shall be known and may be...

Section 445.1852 - Definitions. - Sec. 2. As used in this act: (a) "Borrower" means...

Section 445.1853 - Scope of Act. - Sec. 3. This act does not authorize a regulated lender...

Section 445.1854 - Charge, Collection, and Receipt of Interest Rate or Finance Charge; Maximum Rate; Computation. - Sec. 4. (1) Except as provided in subsection (2), a...

Section 445.1855 - Credit Sale Under MCL 445.1101 to 445.1431 or MCL 492.101 to 492.141; Written Agreement; Precomputed Interest Provision. - Sec. 5. The written agreement made in connection with a...

Section 445.1856 - Regulated Lender; Authority to Charge Fee for Late Payment or Dishonored Check; Fee or Charge Not Considered as Interest; Excessive Fee or Charge. - Sec. 6. (1) Except for depository institutions and as otherwise...

Section 445.1857 - Fees or Charges Servicing Extension of Credit; Charge, Collection, and Receipt by Depository Institution; Credit Card Arrangement Fees and Charges Considered as Interest; Excessive Fee or Charge. - Sec. 7. (1) In addition to the interest or finance...

Section 445.1858 - Certain Provisions in Written Agreement as Void and Unenforceable. - Sec. 8. Any of the following provisions contained in a...

Section 445.1859 - Additional Financial Services as Condition for Loan Approval Prohibited; Offer of Services; Certain Transactions or Requirements Not Prohibited; Applicability of Section to Depository Institution Subject to 12 u.s.c. 1972; Definiti... - Sec. 9. (1) A regulated lender shall not require as...

Section 445.1860 - Written Complaint Alleging Violation of Act; Duty of Commissioner. - Sec. 10. Upon receipt of a written complaint alleging a...

Section 445.1861 - Action by Attorney General, Prosecuting Attorney, or Borrower; Recovery of Interest or Other Charges; Attorney Fees and Court Costs; Class Action. - Sec. 11. (1) The attorney general, the prosecuting attorney for...

Section 445.1862 - Violation of Act; Exceptions. - Sec. 12. (1) A regulated lender is not liable for...

Section 445.1863 - Enforcement of Other Laws Not Limited. - Sec. 13. This act does not limit the authority of...

Section 445.1864 - Validity of Transactions, Rates of Interest, Fees, or Charges. - Sec. 14. This act does not impair the validity of...