Sec. 207.
Notwithstanding the provisions of any other law and notwithstanding any agreement to the contrary:
(a) A person shall not take a negotiable instrument, other than a currently dated check or draft, as evidence of the obligation of the buyer in a home improvement installment sale or home improvement charge sale.
(b) A holder of a home improvement contract, home improvement charge agreement, or other evidence of indebtedness of the buyer is subject to all the claims and defenses of the buyer arising out of the home improvement installment sale or a home improvement charge sale, but the buyer's recovery shall not exceed the amount paid to the holder thereunder.
History: 1965, Act 332, Eff. Jan. 1, 1966 ;-- Am. 1972, Act 193, Eff. Jan. 1, 1973 ;-- Am. 1980, Act 78, Imd. Eff. Apr. 3, 1980 ;-- Am. 1985, Act 202, Imd. Eff. Dec. 27, 1985
Structure Michigan Compiled Laws
Chapter 445 - Trade and Commerce
Act 332 of 1965 - Home Improvement Finance Act (445.1101 - 445.1431)
332-1965-2 - Part 2 (445.1201...445.1209)
Section 445.1201 - Home Improvement Installment Contract; Date, Form.
Section 445.1202 - Home Improvement Installment Contract; Contents Required.
Section 445.1203 - Home Improvement Installment Contract; Additional Required Contents.
Section 445.1204a - Home Improvement Charge Agreement Generally.
Section 445.1205 - Home Improvement Installment Contract; Statement as to Insurance.
Section 445.1208 - Repealed. 1972, Act 193, Eff. Jan. 1, 1973.