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10 chapters · 65 sections in this title.
Mich. Comp. Laws § 446.111 Short title.
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Sec. 1. This act shall be known and may be cited as the "refund anticipation loan disclosure act".
Mich. Comp. Laws § 446.113 Definitions.
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Sec. 3. As used in this act: (a) "Annual percentage rate" means the rate as computed under the federal truth in lending act, 15 USC 1601 to 1667f. (b) "Facilitator" means a person that individually or in conjunction or cooperation with another person processes, receives, or accep…
Mich. Comp. Laws § 446.115 Information to be disclosed to taxpayer by facilitator.
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Sec. 5. Before a taxpayer completes an application for a refund anticipation loan, the facilitator shall clearly disclose all of the following in writing to the taxpayer on a form separate from the application: (a) A listing or table of refund anticipation loan fees and the annua…
Mich. Comp. Laws § 446.117 Information to be disclosed before entering agreement.
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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 loa…