Sec. 7.
Before entering into a refund anticipation loan agreement, the facilitator shall clearly disclose both of the following to the taxpayer:
(a) The estimated total fees for the refund anticipation loan.
(b) The estimated annual percentage rate for the refund anticipation loan.
History: 2009, Act 66, Imd. Eff. July 9, 2009
Structure Michigan Compiled Laws
Chapter 446 - Business Regulation
Act 66 of 2009 - Refund Anticipation Loan Disclosure Act (446.111 - 446.121)
Section 446.111 - Short Title.
Section 446.113 - Definitions.
Section 446.115 - Information to Be Disclosed to Taxpayer by Facilitator.
Section 446.117 - Information to Be Disclosed Before Entering Agreement.