Sec. 13.
(1) The department of insurance and financial services shall develop and make available to local units of government, financial institutions, and other interested persons 1 or more model programs for financial education.
(2) The program required under this section shall be designed to teach personal financial management skills and the basic principles involved with saving, borrowing, investing, and protection against predatory and other fraudulent lending practices.
History: 2002, Act 660, Imd. Eff. Dec. 23, 2002 ;-- Am. 2016, Act 44, Eff. June 13, 2016
Structure Michigan Compiled Laws
Chapter 445 - Trade and Commerce
Act 660 of 2002 - Consumer Mortgage Protection Act (445.1631 - 445.1645)
Section 445.1631 - Short Title.
Section 445.1632 - Definitions.
Section 445.1633 - Compliance With State and Federal Laws.
Section 445.1634 - Person Making Mortgage Loan; Prohibited Conduct.
Section 445.1635 - Mortgage Loan With Term Less Than 5 Years; Payment Schedule.
Section 445.1636 - Federal Special Information Booklet; Document to Be Prepared by Department.
Section 445.1637 - Repealed. 2016, Act 44, Eff. June 13, 2016.
Section 445.1638 - Examinations and Investigations by Commissioner.
Section 445.1639 - Violation of Act.
Section 445.1640 - Action by Attorney General or Prosecuting Attorney.
Section 445.1641 - Unintentional and Bona Fide Error.
Section 445.1642 - Enforcement Not Limited.
Section 445.1643 - Model Programs for Financial Education.
Section 445.1644 - Municipal Actions; Statutory Conflict; Preemption; Severability.