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Section 487.2051 - Short Title. - Sec. 1. This act shall be known and may be...
Section 487.2052 - Definitions. - Sec. 2. As used in this act: (a) "Applicant" means...
Section 487.2053 - License Required to Engage in Business Activity; Exceptions. - Sec. 3. (1) A person shall not engage in a...
Section 487.2054 - License Application. - Sec. 4. An application for a license under this act...
Section 487.2055 - License Fee; Investigation Fee; Financial Statements; Net Worth Requirements. - Sec. 5. (1) An application for a license shall be...
Section 487.2056 - Surety Bond or Letter of Credit. - Sec. 6. (1) An applicant for a license shall furnish...
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. - Sec. 7. (1) Upon the filing of an application and...
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. - Sec. 8. (1) Upon approval by the commissioner of an...
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... - Sec. 9. (1) Except as otherwise provided in subsection (2),...
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; Eviden... - Sec. 10. (1) A license shall not be suspended or...
Section 487.2060a - Request for Reconsideration. - Sec. 10a. (1) If an applicant for a license is...
Section 487.2060b - Hearing; Judicial Review. - Sec. 10b. (1) A hearing provided for in section 10...
Section 487.2060c - Enforcement of Notice or Order. - Sec. 10c. The commissioner may apply to the circuit court...
Section 487.2060d - Summary Suspension; Order; Hearing; Record. - Sec. 10d. (1) After a complaint is filed or, as...
Section 487.2060e - Summary Suspension Order, Cease and Desist Order, or Injunctive Relief as Additional Legal Action. - Sec. 10e. A summary suspension order, cease and desist order,...
Section 487.2060f - Investigation or Examination by Commissioner; Complaint or Action; Suspension of License; Request for Hearing; Duration of Suspension. - Sec. 10f. (1) As provided in section 10(4), the commissioner...
Section 487.2060g - Fraud or Money Laundering; Definitions. - Sec. 10g. (1) If in the opinion of the commissioner...
Section 487.2060h - Hearing; Decision; Findings; Judicial Review; Stay. - Sec. 10h. (1) A hearing under section 10 or 10g...
Section 487.2060i - Enforcement of Order; Jurisdiction. - Sec. 10i. The commissioner may apply to the circuit court...
Section 487.2060j - Violation as Misdemeanor; Penalty. - Sec. 10j. Any current or former executive officer, director, agent,...
Section 487.2060k - Violation of Order; Exceptions. - Sec. 10k. A control person who is subject to an...
Section 487.2061 - Annual Schedule of Fees; Fees Nonrefundable; Action for Recovery of Fees or Penalties; Disposition of Money Received. - Sec. 11. (1) The commissioner shall annually establish a schedule...
Section 487.2062 - Investigation of Business Activities; Examination of Books, Accounts, Records, and Files; Additional Reports; Audit and Management Letter. - Sec. 12. (1) The commissioner at any time may investigate...
Section 487.2063 - Repealed. 1999, Act 275, Imd. Eff. Jan. 5, 2000. - Compiler's Notes: The repealed section pertained to disposition and use...
Section 487.2064 - Records. - Sec. 14. (1) A licensee under this act shall maintain...
Section 487.2065 - Annual Report; Failure to File Report; Penalty. - Sec. 15. (1) A licensee shall annually on or before...
Section 487.2066 - Conservatorship or Receivership. - Sec. 16. Notwithstanding licensing under this act, if a licensee...
Section 487.2066a - Licensee Engaged in Loan Servicing Activities; Appointment of Conservator or Receiver. - Sec. 16a. If the commissioner determines that a licensee engaging...
Section 487.2066b - Powers and Duties of Conservator or Receiver. - Sec. 16b. (1) The conservator, under the direction of the...
Section 487.2067 - Prohibited Activities or Practices. - Sec. 17. A licensee under this act shall not do...
Section 487.2068 - Rules. - Sec. 18. The commissioner shall promulgate rules that are necessary...
Section 487.2069 - Obligation of Contract Party Not Impaired or Affected. - Sec. 19. This act shall not be construed to impair...
Section 487.2070 - Action by Person, County Prosecuting Attorney, or Attorney General. - Sec. 20. A person, county prosecuting attorney, or the attorney...
Section 487.2071 - Effective Date. - Sec. 21. This act shall take effect September 1, 1988....
Section 487.2072 - Conditional Effective Date. - Sec. 22. This act shall not take effect unless all...