Michigan Compiled Laws
Act 148 of 1975 - Debt Management Act (451.411 - 451.437)
Section 451.411 - Short Title.

Sec. 1.
This act shall be known as the “debt management act,” and shall be broadly construed to effectuate its purpose of providing protection to the public.
History: 1975, Act 148, Eff. Mar. 31, 1976 Compiler's Notes: For transfer of powers and duties of the corporation and securities bureau from the department of commerce to the director of the department of consumer and industry services, see E.R.O. No. 1996-2, compiled at MCL 445.2001 of the Michigan Compiled Laws.For transfer of statutory authority, powers, duties, and functions of the corporations, securities and land development bureau to the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 451 - Securities, Real Estate, and Debt Management

Act 148 of 1975 - Debt Management Act (451.411 - 451.437)

Section 451.411 - Short Title.

Section 451.412 - Definitions.

Section 451.413 - Business of Debt Management as Financial Planning Service Requiring License; Exception.

Section 451.414 - License Required; Contract Made by Unlicensed Person Void; Persons Eligible for Exemption.

Section 451.415 - License; Application; Filing Requirements; Expiration and Renewal of License; Books and Records; Financial Statement; Licensee With Board of Directors or Equivalent.

Section 451.416 - License; Investigation; Grounds for Issuance or Nonissuance; Evidence of Certification as Certified Counselor.

Section 451.417 - Applicability of Examination Provisions.