Sec. 18.
Any seller who enters into any contract or agreement which does not comply with the provisions of this act or who violates any provision of this act except as a result of accidental or bona fide error is barred from the recovery of any time price differential, any official fees, delinquency or collection charge, attorney fees or court costs and the buyer shall be entitled to recover his reasonable attorney fees and court costs from the seller or his assigns.
Notwithstanding the provisions of this section, nothing in this act shall bar recovery upon a contract which is lawful where executed and is executed outside this state by a buyer who was not at the time of such execution a bona fide resident of this state, except that no seller or seller's assign may in any such action recover a greater total time price differential upon any retail installment contract or charge agreement than the maximum lawful rate which would have been permitted by this act if such contract or agreement had been executed in this state.
History: 1966, Act 224, Eff. Mar. 10, 1967
Structure Michigan Compiled Laws
Chapter 445 - Trade and Commerce
Act 224 of 1966 - Retail Installment Sales Act (445.851 - 445.873)
Section 445.851 - Retail Installment Sales Act; Short Title.
Section 445.851a - Truth in Lending Act; Effect of Compliance.
Section 445.852 - Definitions.
Section 445.856 - Retail Installment Contracts; Blank Space; Filling.
Section 445.857 - Time Price Differential; Limitation; Computation; Minimum Time Price Differential.
Section 445.858 - Prepayment of Unpaid Balance; Amount of Refund Credit.
Section 445.862a - Submission of Invoice Evidencing Credit Card Sale.
Section 445.866 - Waiver of Act as to Buyers' Protection Prohibited.
Section 445.867 - Violation of Act; Misdemeanor.
Section 445.868 - Violation of Act; Effect as to Recovery Rights of Seller.
Section 445.869 - Violation of Act; Actions; Penalties.
Section 445.871 - Violation of Order of Circuit Court; Civil Penalty.