Michigan Compiled Laws
Act 135 of 1977 - Mortgage Lending Practices (445.1601 - 445.1614)
Section 445.1613 - Commencement of Action; Limitation.

Sec. 13.
An action shall not be commenced under this act more than 2 years after the occurrence giving rise to the cause of action.
History: 1977, Act 135, Eff. July 1, 1978

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 445 - Trade and Commerce

Act 135 of 1977 - Mortgage Lending Practices (445.1601 - 445.1614)

Section 445.1601 - Definitions.

Section 445.1602 - Denying Loan Application or Varying Terms or Conditions of Loan Contract; Uniform Application of Policy or Criteria; Basis for Consideration of Loan Application; Minimum Mortgage Amount; Minimum Loan Amount; Opportunity to Submit L...

Section 445.1602a - Property/casualty Insurance as Condition to Loan; Limitation on Amount Required; Amount as Condition of Sale, Transfer, or Assignment.

Section 445.1603 - Lending Policies and Criteria; Loan Application Procedures and Contract Terms.

Section 445.1604 - Advantageous Loan Terms.

Section 445.1605 - Notice to Loan Inquirers or Applicants; Posting; Contents.

Section 445.1606 - Repealed. 2002, Act 692, Eff. Mar. 31, 2003.

Section 445.1607 - Retention of Records and Documents.

Section 445.1608 - Violation; Investigation; Progress Report; Hearing; Report; Availability of Information.

Section 445.1609 - Voluntary Mortgage Review Boards; Mandatory Mortgage Review Boards.

Section 445.1610 - Rules.

Section 445.1611 - Injunction; Damages; Commissioner as Party Plaintiff; Class Actions Prohibited.

Section 445.1612 - Violation; Fine; Costs of Investigation; Proceedings.

Section 445.1613 - Commencement of Action; Limitation.

Section 445.1614 - Effective Date.