Sec. 405.
A criminal violation of any of the provisions of this act by a director, manager, partner, officer, salesman, agent or employee of a contractor or financing agency is deemed a criminal violation by such contractor or financing agency, unless it shall appear that the individuals engaged in the management of the contractor or financing agency had no actual or constructive knowledge of the wrongful conduct or was reasonably unable to prevent the violation.
History: 1965, Act 332, Eff. Jan. 1, 1966
Structure Michigan Compiled Laws
Chapter 445 - Trade and Commerce
Act 332 of 1965 - Home Improvement Finance Act (445.1101 - 445.1431)
332-1965-4 - Part 4 (445.1401...445.1431)
Section 445.1401 - Notice of Assignment of Contract or Agreement.
Section 445.1402 - Statement of Payments; Furnished by Holder, Fee.
Section 445.1403 - Payment in Full; Acknowledgment, Release of Collateral.
Section 445.1405 - Criminal Violation of Act by Personnel Deemed Violation by Contractor; Exception.
Section 445.1406 - Unauthorized Charges.
Section 445.1407 - Cash Loans.
Section 445.1410 - Effect of Act as to Prior Contracts.
Section 445.1421 - Violation of Act; Misdemeanor, Penalty.
Section 445.1422 - Violation of Act; Injunction; Violation of Injunction, Civil Penalty.