reglab/housing_qa huggingface dataset:
MI Comp L § 451.420 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 148 of 1975 - Debt Management Act (451.411 - 451.437)|Section 451.420 - Rules; Rights, Remedies, and Procedures.

451.420 Rules; rights, remedies, and procedures. Sec. 10.  Act No. 306 of the Public Acts of 1969, as amended, being sections 24.201 to 24.315 of the Michigan Compiled Laws, shall wherever applicable herein, govern the rules promulgated and rights, remedies, and procedures respecting the administration of this act. History: 1975, Act 148, Eff. Mar. 31, 1976 Compiler's Notes: 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.
MI Comp L § 451.421 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 148 of 1975 - Debt Management Act (451.411 - 451.437)|Section 451.421 - License; Applicable Provisions.

451.421 License; applicable provisions.Sec. 11.  All of the following apply to a license:  (a) The director shall prescribe the form and size of a license.  (b) A license shall show the name of the licensee and the address at which the business of debt management is to be conducted.  (c) A license shall show the date of expiration of the license as December 31, and show any other information prescribed by the director.  (d) While the license is in force, the licensee shall at all times conspicuously display the license in the outer office of the licensee or branch office of the licensee, if that office offers in-person services to consumers, and state on an internet website that is available to the public that the licensee is licensed in this state.  (e) A license is not transferable or assignable.  (f) A licensee shall surrender a license to the department within 5 business days after the date that the licensee either ceases to engage in the business of debt management or the date the license is revoked. History: 1975, Act 148, Eff. Mar. 31, 1976 ;-- Am. 2000, Act 255, Imd. Eff. June 29, 2000 ;-- Am. 2014, Act 362, Eff. Mar. 16, 2015 Compiler's Notes: 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.
MI Comp L § 451.422 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 148 of 1975 - Debt Management Act (451.411 - 451.437)|Section 451.422 - Budget Analysis.

451.422 Budget analysis.Sec. 12.  (1) A licensee may enter into a contract or agreement to provide debt management services to a debtor only if the licensee has conducted a written and thorough budget analysis of the debtor and made a determination, based on the analysis of the information provided by the debtor or otherwise available to the licensee, that a debt management plan is a suitable solution for the debtor and that the debtor will be able to meet the payment obligations under the plan. If the licensee determines that a plan is suitable for a debtor whose current monthly expense and debt payments exceed the debtor's net income, the licensee must establish a written plan outlining how the debtor will meet the payment obligations under the plan before entering into a contract or agreement to provide debt management services to the debtor.  (2) A budget analysis described in subsection (1) shall contain all of the following information about the debtor:  (a) Name and address.  (b) Number of dependents.  (c) Amount of all employment compensation, payments from government programs, child support and alimony payments, and other income and the debtor's net monthly income. Except as provided in this subdivision, a debtor is only required to provide information to a licensee about the amount of his or her income and is not required to provide any information about the source of that income.  (d) Monthly home mortgage or rental payment, if any. If the home mortgage payment does not include an escrow for real estate taxes, the budget analysis shall contain an estimate of the annual amount of the real estate taxes on the property, if the amount is available from the debtor or public source.  (e) Type and amount of all of the debtor's obligations included in the debt management plan, including, but not limited to, a description of and amount owed for any outstanding garnishments and judgments, and the type and amount of the debtor's obligations that are known to the debtor and are not included in the debt management plan.  (f) Amount of household expenses, including, but not limited to, expenses for food, utilities, vehicles, insurance, and other living expenses.  (g) A list of the creditors to which payments will be made under the plan. History: 1975, Act 148, Eff. Mar. 31, 1976 ;-- Am. 2000, Act 255, Imd. Eff. June 29, 2000 ;-- Am. 2014, Act 362, Eff. Mar. 16, 2015 Compiler's Notes: 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.
MI Comp L § 451.423 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 148 of 1975 - Debt Management Act (451.411 - 451.437)|Section 451.423 - Initial Fee; Consent of Creditor; Presumption.

451.423 Initial fee; consent of creditor; presumption.Sec. 13.  (1) When a licensee establishes a debt management plan for a debtor, the licensee may charge and receive an initial fee of $50.00.  (2) A licensee shall attempt to obtain consent to participate in a debt management plan from at least 51%, in number or dollar amount, of the debtor's creditors within 90 days after establishing the debt management plan. If the required consent is not actually received by the licensee, the licensee shall provide notice to the debtor of the lack of required consent and the debtor may, at its option, close the account. If the debtor decides to close the account, any unexpended funds shall be returned to the debtor or disbursed as directed by the debtor.  (3) For purposes of subsection (2), a licensee may seek the consent of a creditor to participate in a debt management plan by sending a notice of a debt management plan to the creditor by an appropriate means including by telephone, facsimile, electronic means, or first-class mail. If the creditor does not respond within 14 days after the notice is sent, the licensee may presume that the creditor has given consent. However, this subsection does not require that a licensee send notice of a debt management plan to all of a debtor's creditors.  (4) If a payment under the debt management plan is sent to the creditor, the licensee may presume acceptance of the payment and plan by the creditor 7 days after sending the payment. As an alternative to sending notice under subsection (3), a licensee may seek the consent of a creditor for purposes of subsection (2) by sending a payment to the creditor under the terms of the debt management plan. History: 1975, Act 148, Eff. Mar. 31, 1976 ;-- Am. 2000, Act 255, Imd. Eff. June 29, 2000 ;-- Am. 2014, Act 362, Eff. Mar. 16, 2015 Compiler's Notes: 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 MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 451.424 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 148 of 1975 - Debt Management Act (451.411 - 451.437)|Section 451.424 - Contract Between Licensee and Debtor; Requirements.

451.424 Contract between licensee and debtor; requirements.Sec. 14.  (1) A contract between a licensee and debtor shall include all of the following:  (a) Each creditor to which payments will be made and the amount owed each creditor. A licensee may rely on records of the debtor and other information available to it to determine the amount owed to a creditor.  (b) The total amount of the licensee's charges.  (c) The beginning and termination dates of the contract.  (d) The principal amount and approximate interest charges of the debtor's obligations to be paid under the debt management plan.  (e) The name and address of the licensee and of the debtor.  (f) Any other provisions or disclosures that the director determines are necessary for the protection of the debtor and the proper conduct of business by a licensee.  (2) Unless otherwise approved by the department and except for an amount due for 1 or more monthly fees, a closeout fee, credit reports, or educational products or materials, a licensee shall distribute to the creditors of the debtor, at least monthly, all money received from a debtor or on behalf of a debtor unless otherwise directed by the debtor.  (3) By submitting a written request to the licensee, a debtor may add or remove 1 or more debt obligations from a contract at any time. If the licensee determines after preparing an updated budget analysis that the debtor can reasonably fulfill the requirements of the debt management plan, the licensee may amend the contract as requested by the debtor.   (4) If a debtor's contract with a licensee expires and 1 or more debt obligations included in that contract are not yet liquidated, the licensee may extend or enter into an additional contract with the debtor if the licensee determines that the debt management plan is suitable for the debtor. History: 1975, Act 148, Eff. Mar. 31, 1976 ;-- Am. 2000, Act 255, Imd. Eff. June 29, 2000 ;-- Am. 2014, Act 362, Eff. Mar. 16, 2015 Compiler's Notes: 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.
MI Comp L § 451.427 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 148 of 1975 - Debt Management Act (451.411 - 451.437)|Section 451.427 - Examination of Licensee.

451.427 Examination of licensee.Sec. 17.  The department may examine, without notice, the condition and affairs of a licensee. In connection with an examination, the department may examine under oath a licensee and any director, officer, employee, customer, creditor, manager, member, partner, or stockholder of a licensee concerning the affairs and business of the licensee. The department shall ascertain whether the licensee transacts its business in the manner required under this act and the rules promulgated under this act. The licensee shall pay an examination fee, in an amount equal to the actual cost of the examination as determined by the department, and the department shall deposit that fee in the state treasury to the credit of the department. Failure to pay the examination fee within 30 days after receiving a demand for payment from the department shall automatically suspend the license of the licensee until the fee is paid. History: 1975, Act 148, Eff. Mar. 31, 1976 ;-- Am. 2000, Act 255, Imd. Eff. June 29, 2000 ;-- Am. 2014, Act 362, Eff. Mar. 16, 2015 Compiler's Notes: 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.
MI Comp L § 451.430 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 148 of 1975 - Debt Management Act (451.411 - 451.437)|Section 451.430 - Advertisement.

451.430 Advertisement.Sec. 20.  (1) This act does not impose any liability, civil or criminal, on a person or publisher that is regularly engaged in the business of publishing a bona fide newspaper or operating a radio or television station and that, acting solely in the course of that business, publishes an advertisement in good faith and without knowledge that the advertisement or publication constitutes a violation of section 19(k), (l), or (m).  (2) A person shall not publish an advertisement concerning the offer of debt management services in this state after the department by order finds that the advertisement contains a statement that is false or misleading or omits to make any necessary statement in order to make the statements made, in light of the circumstances under which they were made, not misleading and notifies the person of that finding in writing. The department may give this notification summarily, without notice of hearing. At any time after the issuance of a notification under this section, the person that desires to use the advertisement may request in writing that the department rescind the order. If it receives a written request under this subsection, the department shall schedule a hearing on the matter to commence within 45 days unless the person that made the request consents to a later date. After the hearing the department shall determine whether to affirm and continue or to rescind the order. History: 1975, Act 148, Eff. Mar. 31, 1976 ;-- Am. 2014, Act 362, Eff. Mar. 16, 2015 Compiler's Notes: 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.
MI Comp L § 451.431 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 148 of 1975 - Debt Management Act (451.411 - 451.437)|Section 451.431 - Assignment of Wages.

451.431 Assignment of wages. Sec. 21.  This act shall not be construed as prohibiting the assignment of wages by a debtor to a licensee, if the assignment is otherwise in accordance with the law of this state. History: 1975, Act 148, Eff. Mar. 31, 1976 Compiler's Notes: 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.
MI Comp L § 451.432 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 148 of 1975 - Debt Management Act (451.411 - 451.437)|Section 451.432 - Rules; Decisions, Orders, and Rulings; Electronic Filing.

451.432 Rules; decisions, orders, and rulings; electronic filing. Sec. 22.  (1) The director may promulgate rules pursuant to the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328, make specific decisions, make orders and rulings that include demands and findings, and take other necessary action for the implementation and enforcement of this act.   (2) The director may in his or her discretion provide for electronic filing of any document filed with the director or department under this act. History: 1975, Act 148, Eff. Mar. 31, 1976 ;-- Am. 2000, Act 255, Imd. Eff. June 29, 2000 Compiler's Notes: 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.Admin Rule: R 451.1221 et seq. of the Michigan Administrative Code.
MI Comp L § 451.434 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 148 of 1975 - Debt Management Act (451.411 - 451.437)|Section 451.434 - Violations; Penalties; Jurisdiction; Remedies.

451.434 Violations; penalties; jurisdiction; remedies. Sec. 24.  (1) A licensee who violates a provision of this act is guilty of a felony and shall be fined not more than $5,000.00, or imprisoned not more than 2 years, or both.  (2) A person who violates an injunction or a cease and desist order issued pursuant to this act shall be guilty of criminal contempt. For the purpose of this act the court issuing an injunction shall retain jurisdiction, and the cause shall be continued, and in those cases the attorney general acting in the name of the state may seek appropriate remedies. History: 1975, Act 148, Eff. Mar. 31, 1976 Compiler's Notes: 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.
MI Comp L § 451.435 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 148 of 1975 - Debt Management Act (451.411 - 451.437)|Section 451.435 - Statute of Limitations.

451.435 Statute of limitations. Sec. 25.  An action brought pursuant to this act shall be commenced within 6 years after the cause of action accrues, except that chapter 58 of Act No. 236 of the Public Acts of 1961, as amended, being sections 600.5801 to 600.5869 of the Michigan Compiled Laws, shall apply wherever possible. History: 1975, Act 148, Eff. Mar. 31, 1976 Compiler's Notes: 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.
MI Comp L § 451.436 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 148 of 1975 - Debt Management Act (451.411 - 451.437)|Section 451.436 - Disposition of Fees.

451.436 Disposition of fees.Sec. 26.  The fees collected under this act shall be paid promptly into the state treasury to the credit of the department. History: 1975, Act 148, Eff. Mar. 31, 1976 ;-- Am. 2014, Act 362, Eff. Mar. 16, 2015 Compiler's Notes: 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.
MI Comp L § 451.437 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 148 of 1975 - Debt Management Act (451.411 - 451.437)|Section 451.437 - Repeal of MCL 451.451 to 451.468.

451.437 Repeal of MCL 451.451 to 451.468. Sec. 27.  Act No. 135 of the Public Acts of 1961, being sections 451.451 to 451.468 of the Compiled Laws of 1970, is repealed. History: 1975, Act 148, Eff. Mar. 31, 1976 Compiler's Notes: 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.
MI Comp L § 451.921 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 87 of 2009 - Uniform Prudent Management of Institutional Funds Act (451.921 - 451.931)|Section 451.921 - Short Title.

451.921 Short title.Sec. 1.  This act shall be known and may be cited as the "uniform prudent management of institutional funds act". History: 2009, Act 87, Imd. Eff. Sept. 10, 2009
MI Comp L § 451.922 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 87 of 2009 - Uniform Prudent Management of Institutional Funds Act (451.921 - 451.931)|Section 451.922 - Definitions.

451.922 Definitions.Sec. 2.  As used in this act:   (a) "Charitable purpose" means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community.   (b) "Endowment fund" means an institutional fund or part of an institutional fund that, under the terms of a gift instrument, is not wholly expendable by the institution on a current basis. Endowment fund does not include assets that an institution designates as an endowment fund for its own use.   (c) "Gift instrument" means a record or records, including an institutional solicitation, under which property is granted to, transferred to, or held by an institution as an institutional fund.   (d) "Institution" means any of the following:   (i) A person, other than an individual, organized and operated exclusively for charitable purposes.   (ii) A government or governmental subdivision, agency, or instrumentality, to the extent that it holds funds exclusively for a charitable purpose.   (iii) A trust that had both charitable and noncharitable interests, after all noncharitable interests have terminated.   (e) "Institutional fund" means a fund held by an institution exclusively for charitable purposes. Institutional fund does not include any of the following:  (i) Program-related assets.  (ii) A fund held for an institution by a trustee that is not an institution, unless the fund is held by the trustee as a component trust or fund of a community trust or foundation.   (iii) A fund in which a beneficiary that is not an institution has an interest, other than an interest that could arise on violation or failure of the purposes of the fund.  (f) "Person" means an individual, corporation, business trust, estate, trust, partnership, association, joint venture, public corporation, government or governmental subdivision, agency, or instrumentality, or any other legal or commercial entity.  (g) "Program-related asset" means an asset held by an institution primarily to accomplish a charitable purpose of the institution and not primarily for investment.  (h) "Record" means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. History: 2009, Act 87, Imd. Eff. Sept. 10, 2009