Title 445, TRADE AND COMMERCE

Sec. 5. The repayments and restorations required by this act shall be made to the city, town, company, person or persons, by which or from whom the gift, grant, consideration or inducement was made or paid, or to their successors, assigns or legal representatives.

Sec. 6. The forfeitures and injunctions provided for in this act may be decreed and enforced by any circuit court of any county in which any such corporation or company may do business, in a suit to be instituted for the purpose, in the name of the state of Michigan, by the prose…

Sec. 1. This act shall be known and may be cited as the "military personnel motor vehicle leasing act".

Sec. 2. As used in this act: (a) "Active duty" means active duty pursuant to an executive order of the president of the United States, an act of congress, or an order of the governor. (b) "Armed forces" means that term as defined in section 2 of the veteran right to employment se…

Sec. 3. A service member who is deployed on active duty for a period of 180 days or more, or the spouse of that service member, may terminate any motor vehicle lease that meets all of the following requirements: (a) The motor vehicle lease is entered into on or after the effectiv…

Sec. 4. A termination of the motor vehicle lease under section 3 is effective on the date all of the following are met: (a) The service member who is deployed on active duty, or the service member's spouse, provides the lessor by certified mail, return receipt requested, a writte…

Sec. 5. (1) If a motor vehicle lease is terminated under this act, the lessee shall pay any past due lease payments owed to the lessor as of the effective date of the termination and a pro rata share of any current lease payments owed as of that effective date. (2) If a motor veh…

Sec. 6. (1) Before the effective date of a motor vehicle lease termination under this act, the lessor may bring a civil action and, if appropriate, obtain equitable relief from all or part of the lessor's obligations to the lessee under this act. (2) In addition to any other pena…

Sec. 1. For purposes of this act: (a) "Customer" means a person who causes a moldbuilder to fabricate, cast, or otherwise make a die, mold, or form for use in the manufacture, assembly, or fabrication of plastic parts, or a person who causes a molder to use a die, mold, or form t…

Sec. 2. Unless otherwise agreed in writing, if a customer does not claim possession of a die, mold, or form from the molder within 3 years from the last use of the die, mold, or form, all rights, title, and interest in the die, mold, or form may, at the option of the molder, be t…

Sec. 3. After the expiration of the 3-year period set forth in section 2, if a molder chooses to have all rights, title, and interest in a die, mold, or form transferred to the molder by operation of law, the molder shall send written notice by registered mail, return receipt req…

Sec. 4. If a customer does not claim possession of the die, mold, or form within 120 days after the date the molder receives the return receipt of the notice sent pursuant to section 3, or does not make other arrangements with the molder for storage of the die, mold, or form with…

Sec. 5. The 3-year waiting period provided in section 2 shall apply retroactively in the case of a die, mold, or form in the possession of a molder on the effective date of this act.

Sec. 6. Sections 2 to 5 shall not apply if a molder retains title to and possession of a die, mold, or form. Sections 2 to 5 shall not be construed to grant a customer rights, title, or interest in a die, mold, or form.

Sec. 7. This act shall take effect January 1, 1982.

Sec. 8. A molder has a lien, dependent on possession, on any die, mold, or form in the molder's possession belonging to a customer for the amount due the molder from the customer for plastic fabrication work performed with the die, mold, or form. A molder may retain possession of…

Sec. 8a. Before enforcing a lien granted to a molder under section 8, notice in writing shall be given to the customer, whether delivered personally or sent by registered mail to the last known address of the customer. The notice shall state that a lien is claimed for the amount …

Sec. 8b. If the molder has not been paid the amount due within 90 days after the notice has been received by the customer provided in section 8a, the molder may sell the die, mold, or form at a public auction if both of the following occur: (a) The die, mold, or form is still in …

Sec. 8c. (1) Before a molder may sell the die, mold, or form, the molder shall notify, by registered mail, return receipt requested, the customer and any person whose security interest is perfected by filing. The notice shall include the following information: (a) The molder's in…

Sec. 8d. (1) If the sale is for a sum greater than the amount of the lien, the proceeds shall first be paid to the prior lienholder who has a perfected lien in an amount sufficient to extinguish that interest. Any excess shall next be paid to the molder who possesses a lien under…

Sec. 9. (1) A moldbuilder shall permanently record on every die, mold, or form that the moldbuilder fabricates, repairs, or modifies the moldbuilder's name, street address, city, and state. (2) A moldbuilder shall file a financing statement in accordance with the requirements of …

Sec. 10. To enforce a lien that attaches under section 9, the moldbuilder shall give notice in writing to the customer and the molder. The notice shall be given by hand delivery or certified mail, return receipt requested, to the last known address of the customer and to the last…

Sec. 10a. Subject to section 10b, if the moldbuilder has not been paid the amount claimed in the notice required under section 10 within 90 days after the notice required under section 10 has been received by the customer and the molder, the moldbuilder has a right to possession …

Sec. 10b. (1) Before a moldbuilder may sell a die, mold, or form for which a lien is claimed and for which the required notice has been sent under section 10, the moldbuilder shall notify the customer, the molder, and all other persons that have a perfected security interest in t…

Sec. 10c. (1) If the proceeds of the sale are greater than the amount of the lien, the proceeds shall first be paid to the moldbuilder in the amount necessary to satisfy the lien. All proceeds in excess of the lien shall be paid to the customer. (2) A sale shall not be made or po…

Sec. 1. This act shall be known and may be cited as the "credit services protection act".

Sec. 2. As used in this act: (a) "Buyer" means a person who is solicited to purchase or who purchases the services of a credit services organization. (b) "Credit services organization" means, except as otherwise provided in subdivision (c), a person who, in return for considerati…

Sec. 3. A credit services organization, a salesperson, agent, or representative of a credit services organization, or an independent contractor who sells or attempts to sell the services of a credit services organization shall not do any of the following: (a) Charge or receive fr…

Sec. 4. (1) Except as provided in subsection (2), the attorney general, a county prosecutor, or a buyer may bring an action to do 1 or more of the following: (a) Enjoin a person who is engaged or is about to engage in a method, act, or practice that violates this act. (b) Obtain …

Sec. 5. (1) A person who violates this act is guilty of a misdemeanor punishable by imprisonment for not more than 90 days, or a fine of not more than $1,000.00, or both. Each transaction in violation of this act constitutes a separate offense. (2) A credit services organization …

Sec. 6. Act No. 361 of the Public Acts of 1988, being sections 445.1701 to 445.1708 of the Michigan Compiled Laws, is repealed.

Sec. 1. This act shall be known and may be cited as the "credit reform act".

Sec. 2. As used in this act: (a) "Borrower" means a person who obtains an extension of credit from a regulated lender. (b) "Commissioner" means the commissioner of the financial institutions bureau of the department of consumer and industry services. (c) "Credit card arrangement"…

Sec. 3. This act does not authorize a regulated lender to make an extension of credit of a type that is not permitted by the act under which the regulated lender is chartered, organized, licensed, regulated, or otherwise authorized to extend credit.

Sec. 4. (1) Except as provided in subsection (2), a regulated lender may charge, collect, and receive any rate of interest or finance charge for an extension of credit not to exceed 25% per annum. (2) A depository institution may charge, collect, and receive any rate of interest …

Sec. 5. The written agreement made in connection with a credit sale under the home improvement finance act, Act No. 332 of the Public Acts of 1965, being sections 445.1101 to 445.1431 of the Michigan Compiled Laws, or the motor vehicle sales finance act, Act No. 27 of the Public …

Sec. 6. (1) Except for depository institutions and as otherwise provided by law, a regulated lender may do any of the following: (a) Require the borrower to pay a processing fee in connection with making, closing, disbursing, extending, readjusting, or renewing an extension of cr…

Sec. 7. (1) In addition to the interest or finance charges that are authorized under section 4, a depository institution may charge, collect, and receive from a borrower or buyer all fees and charges that are agreed to or accepted by the borrower or buyer including those relating…

Sec. 8. Any of the following provisions contained in a written document made in connection with an extension of credit to an individual for personal, family, or household purposes are void and unenforceable: (a) A power of attorney to confess a judgment. (b) Unless otherwise expr…

Sec. 9. (1) A regulated lender shall not require as a condition of approving a loan that the borrower contract for 1 or more additional financial services offered by the regulated lender or a particular service provider designated by the regulated lender. (2) This section does no…

Sec. 10. Upon receipt of a written complaint alleging a violation of this act by a regulated lender, the commissioner shall do 1 of the following: (a) Investigate the complaint if the regulated lender is chartered, licensed, or regulated by the commissioner. (b) If the regulated …

Sec. 11. (1) The attorney general, the prosecuting attorney for the county where an alleged violation occurred, or a borrower may bring an action against a regulated lender to do 1 or more of the following: (a) Obtain a declaratory judgment that a method, act, or practice of a re…

Sec. 12. (1) A regulated lender is not liable for a violation of this act if the regulated lender has fully complied with the federal truth-in-lending act, Public Law 90-321, 15 U.S.C. 1601 to 1667e and shows that the violation was an unintentional and bona fide error notwithstan…

Sec. 13. This act does not limit the authority of the commissioner, the attorney general, or a county prosecutor to enforce any law under which a regulated lender is chartered, organized, licensed, regulated, or otherwise authorized to extend credit.

Sec. 14. This act does not impair the validity of a transaction, rate of interest, fee, or charge that is otherwise lawful.

Sec. 1. As used in this act: (a) "Lease contract" means a contract for the lease of a motor vehicle by a natural person for a term exceeding 30 days. (b) "Lessee" means a natural person who leases a motor vehicle under a lease contract. (c) "Lessor" means a natural person, partne…