Sec. 15.
(1) After the commissioner receives a completed license application, the commissioner shall investigate to determine whether the requirements of this act are satisfied. If the commissioner finds that the requirements of this act are satisfied, the commissioner shall issue to the applicant a license to engage in deferred presentment service transactions.
(2) A licensee shall post a copy of its license in a conspicuous location at the place of business of the licensee.
History: 2005, Act 244, Imd. Eff. Nov. 28, 2005
Structure Michigan Compiled Laws
Chapter 487 - Financial Institutions
Act 244 of 2005 - Deferred Presentment Service Transactions Act (487.2121 - 487.2173)
Article 2 - (487.2131...487.2142)
Section 487.2132 - Licensure Requirements.
Section 487.2133 - Application; Writing; Oath; Form; Information; Fee.
Section 487.2134 - License Fees; Disposition; Surety Bond.
Section 487.2136 - Denial of Application or Failure to Act Within Certain Time Period; Hearing.
Section 487.2138 - Report Describing Certain Event.
Section 487.2139 - Expiration and Renewal of License.
Section 487.2141 - Books, Accounts, and Records; Preservation.
Section 487.2142 - Development, Implementation, and Maintenance of Database.