Mich. Comp. Laws § 445.1821
Short title.
This act shall be known and may be cited as the "credit services protection act".
Michigan Compiled Laws — CREDIT SERVICES PROTECTION ACT (Act 160 of 1994)
Michigan · statute · 160 of 1994, Mich. Comp. Laws · 5 active provisions
Mich. Comp. Laws § 445.1822
Definitions.
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 consideration, attempts to sell, provide, or perform 1 or m…
Mich. Comp. Laws § 445.1823
Prohibited conduct.
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 from a buyer that is seeking a loan or extension o…
Mich. Comp. Laws § 445.1824
Actions by attorney general, county prosecutor, or buyer; limitation; other legal remedies not limited or prohibited.
(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 a declaratory judgment that a method, act, or pr…
Mich. Comp. Laws § 445.1825
Violation as misdemeanor; penalty; separate offense; recovery of fees or other charges.
(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 that violates this act is barred from recovering…