reglab/housing_qa huggingface dataset:
MI Comp L § 445.1657 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1657 - Expiration of Registration or License; Renewal; Application; Fee; Limitation; Financial Statement.

445.1657 Expiration of registration or license; renewal; application; fee; limitation; financial statement.Sec. 7.  (1) A registration or license, unless it is renewed, shall expire December 31 of each year. A registration or license may be renewed by filing a registration or an application for license renewal and paying the annual operating fee for the succeeding year. The registration or application and payment shall be received by the commissioner on, or before, a date prescribed by the commissioner.  (2) Not later than 90 days after the close of the fiscal year of a licensee or registrant, the licensee or registrant shall annually deliver to the commissioner a financial statement for the fiscal year prepared from the licensee's or registrant's books and records. At the licensee's or registrant's option, the financial statement may be any of the following:  (a) A form prescribed by the commissioner.  (b) A report substantially similar to the form prescribed by the commissioner, which the licensee or registrant must represent to the commissioner to be true and complete.  (c) In a format prepared and certified by an independent certified public accountant licensed by a regulatory authority of any state or political subdivision of the United States. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 ;-- Am. 1996, Act 210, Imd. Eff. May 22, 1996 ;-- Am. 2008, Act 72, Eff. Jan. 1, 2009 Constitutionality: In Wachovia Bank v Watters, 431 F 2d 556 (2005), the 6th circuit court of appeals held that the national bank act and implementing federal regulations preempt conflicting Michigan law as to provisions requiring registration before a mortgage lender may conduct business in Michigan, payment of registration and renewal fees, submission of financial statements, and certain investigatory and regulatory powers of the insurance commissioner. (United States Supreme Court granted certiorari June 1, 2006.)Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and 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 § 445.1659 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1659 - Transfer or Assignment of License or Registration.

445.1659 Transfer or assignment of license or registration. Sec. 9.  A license shall not be transferred or assigned without the consent of the commissioner. The sale, transfer, assignment, or conveyance of more than 25% of the outstanding voting stock of a licensee which is a corporation, or more than 25% of the interest in a licensee which is a partnership or other unincorporated association, shall be considered to be a transfer of the license. A registration shall not be transferred or assigned. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and 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 § 445.1660 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1660 - Surrender, Revocation, or Suspension of License or Registration; Loss or Destruction; Affidavit.

445.1660 Surrender, revocation, or suspension of license or registration; loss or destruction; affidavit.Sec. 10.  (1) A licensee or registrant may surrender a license or registration by delivering to the commissioner the license or registration with written notice that the licensee or registrant surrenders the license or registration. The surrender, revocation, or suspension of a license or registration under this act does not affect the licensee's or registrant's civil or criminal liability for acts committed before the surrender, revocation, or suspension. The surrender of a license or registration does not affect a proceeding to suspend or revoke a license or registration.   (2) Except as otherwise provided by law, a revocation, suspension, or surrender of a license or registration does not impair or affect the obligation of a preexisting contract between the licensee or registrant and another person.  (3) A licensee or registrant whose license or registration has been destroyed or lost may comply with this section by submitting to the commissioner a notarized affidavit of the loss accompanied by written notice that the licensee or registrant surrenders the license or registration. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 ;-- Am. 1996, Act 210, Imd. Eff. May 22, 1996 ;-- Am. 2008, Act 69, Imd. Eff. Apr. 3, 2008 ;-- Am. 2009, Act 76, Eff. July 31, 2010 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and 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 § 445.1662 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1662 - Notice of Intention to Enter Order of License or Registration, Suspension or Revocation, or Refusal to Issue License; Hearing; Final Order.

445.1662 Notice of intention to enter order of license or registration, suspension or revocation, or refusal to issue license; hearing; final order.Sec. 12.  (1) The commissioner shall give notice to a licensee or registrant of intention to enter an order suspending or revoking that person's license or registration, or notice to an applicant of a refusal to issue a license or registration, in writing and served personally or sent by certified mail to the licensee, registrant, or applicant.  (2) Within 20 days after the notice of the intention to enter an order suspending or revoking a license or registration, or a refusal to issue a license or registration under subsection (1), the licensee, registrant, or applicant may request a hearing to contest the order or refusal. If a hearing regarding suspension or revocation is not requested, the commissioner shall enter a final order regarding the suspension or revocation. A hearing shall be conducted under the provisions of the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 ;-- Am. 2008, Act 62, Imd. Eff. Apr. 3, 2008 ;-- Am. 2009, Act 76, Eff. July 31, 2010 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and 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 § 445.1663 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1663 - Complaint; Investigation; Federal Regulatory Authority.

445.1663 Complaint; investigation; federal regulatory authority. Sec. 13.  (1) The attorney general, the commissioner, or any other person may file a complaint with the commissioner alleging that a person has violated this act or a rule promulgated or an order issued under this act. If the complaint is made by the commissioner, he or she shall designate 1 or more employees of the financial institutions bureau to act as the person making the complaint. Upon receipt of a complaint, the commissioner may begin an investigation pursuant to the provisions of this act.  (2) If a complaint is received against a registrant which is a subsidiary of a federally chartered depository financial institution, a copy of the complaint shall be immediately sent to the appropriate federal regulatory authority. The commissioner shall attempt to determine the disposition of the complaint and shall make no investigation of the complaint if the complaint is being adequately pursued by the appropriate federal regulatory authority. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 Constitutionality: In Wachovia Bank v Watters, 431 F 2d 556 (2005), the 6th circuit court of appeals held that the national bank act and implementing federal regulations preempt conflicting Michigan law as to provisions requiring registration before a mortgage lender may conduct business in Michigan, payment of registration and renewal fees, submission of financial statements, and certain investigatory and regulatory powers of the insurance commissioner. (United States Supreme Court granted certiorari June 1, 2006.)Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and 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 § 445.1664 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1664 - Provisions Applicable to Investigation.

445.1664 Provisions applicable to investigation.Sec. 14.  All of the following shall apply to an investigation conducted under section 13:  (a) The employees or agents of the office of financial and insurance regulation shall complete the investigation within a reasonable period of time.  (b) If the investigation does not disclose evidence of a violation of this act or a rule promulgated or an order issued under this act, the commissioner shall not use the complaint in any subsequent decision to issue, renew, suspend, or revoke the license or suspend or revoke the registration of the person against which the complaint was filed. The commissioner shall forward the results of the investigation to the complainant and the person against whom the complaint was filed.  (c) In addition to any other action authorized by law, if the investigation discloses evidence of a violation of this act or a rule promulgated or an order issued under this act, the commissioner or the attorney general may prepare a formal complaint to be served on the person against which the allegations are made and shall provide a copy of the formal complaint to the complainant. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 ;-- Am. 2008, Act 63, Imd. Eff. Apr. 3, 2008 ;-- Am. 2009, Act 76, Eff. July 31, 2010 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and 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 § 445.1665 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1665 - Summary Suspension of License or Registration; Order; Affidavit; Dissolution of Summary Suspension Order; Record.

445.1665 Summary suspension of license or registration; order; affidavit; dissolution of summary suspension order; record. Sec. 15.  (1) After an investigation has been conducted pursuant to section 13, the commissioner may issue an order summarily suspending a license or registration pursuant to section 92 of the administrative procedures act of 1969, Act No. 306 of the Public Acts of 1969, being section 24.292 of the Michigan Compiled Laws, based on an affidavit by a person familiar with the facts set forth in the affidavit or, if appropriate, based upon an affidavit, on information and belief, that an imminent threat of financial loss or imminent threat to the public welfare exists.  (2) Pursuant to a proceeding commenced under section 92 of Act No. 306 of the Public Acts of 1969, an administrative law hearings examiner shall grant a request to dissolve a summary suspension order unless the examiner finds that an imminent threat of financial loss or imminent threat to the public welfare exists which requires emergency action and continuation of the summary suspension order.  (3) The record created at the hearing of the summary suspension shall become part of the record on the complaint at a subsequent hearing in a contested case. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 Constitutionality: In Wachovia Bank v Watters, 431 F 2d 556 (2005), the 6th circuit court of appeals held that the national bank act and implementing federal regulations preempt conflicting Michigan law as to provisions requiring registration before a mortgage lender may conduct business in Michigan, payment of registration and renewal fees, submission of financial statements, and certain investigatory and regulatory powers of the insurance commissioner. (United States Supreme Court granted certiorari June 1, 2006.)Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and 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 § 445.1666 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1666 - Cease and Desist Order; Hearing; Violation; Injunction.

445.1666 Cease and desist order; hearing; violation; injunction. Sec. 16.  (1) After an investigation has been conducted pursuant to section 13, and prior to holding the hearing under section 18, the commissioner may order a person to cease and desist from a violation of this act or a rule promulgated or an order issued under this act.  (2) A person ordered to cease and desist shall be entitled to a hearing before the commissioner if a written request for a hearing is filed with the commissioner not more than 30 days after the effective date of the order. A hearing shall be conducted in accordance with the provisions of the administrative procedures act of 1969, Act No. 306 of the Public Acts of 1969, being sections 24.201 to 24.328 of the Michigan Compiled Laws.  (3) A violation of a cease and desist order issued under this act is a violation of this act and the commissioner or the attorney general may take any action permitted under this act, including making application to the Ingham county circuit court to restrain and enjoin, temporarily or permanently, or both, a person from further violating the cease and desist order. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 Constitutionality: In Wachovia Bank v Watters, 431 F 2d 556 (2005), the 6th circuit court of appeals held that the national bank act and implementing federal regulations preempt conflicting Michigan law as to provisions requiring registration before a mortgage lender may conduct business in Michigan, payment of registration and renewal fees, submission of financial statements, and certain investigatory and regulatory powers of the insurance commissioner. (United States Supreme Court granted certiorari June 1, 2006.)Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and 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 § 445.1667 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1667 - Remedies Cumulative.

445.1667 Remedies cumulative. Sec. 17.  A summary suspension order, cease and desist order, or injunctive relief issued or granted in relation to a license shall be in addition to and not in place of an informal conference, criminal prosecution, or proceeding to deny, revoke, or suspend a license or registration, or any other legal action. History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and 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 § 445.1668 (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1668 - Notice of Hearing on Complaint; Service; Informal Conference; Settlement; Compliance; Hearing.

445.1668 Notice of hearing on complaint; service; informal conference; settlement; compliance; hearing. Sec. 18.  (1) After an investigation has been conducted and a formal complaint has been prepared pursuant to section 14(c), the commissioner shall serve upon the person against whom the complaint was filed, and the person who filed the complaint, a notice of a hearing on the complaint pursuant to section 71 of the administrative procedures act of 1969, Act No. 306 of the Public Acts of 1969, being section 24.271 of the Michigan Compiled Laws, and a notice of an opportunity to settle the complaint through an informal conference.  (2) A person upon whom service has been made pursuant to this section may request, within 15 days after the receipt of notice, an opportunity to settle a complaint in an informal conference. An informal conference shall be held only if the person against whom a complaint has been filed agrees to the informal conference. If an informal conference is held, the hearing on the complaint shall be postponed.  (3) An informal conference may result in a settlement, consent order, waiver, default, or other method of settlement agreed upon by the person complained against and the commissioner. A settlement may include a license or registration revocation or suspension, restitution, or a penalty provided for in this act.  (4) This act does not prevent a person against whom a complaint has been filed from showing compliance with this act, a rule promulgated under this act, or an order issued under this act, as provided in chapter 4 of Act No. 306 of the Public Acts of 1969.  (5) If an informal conference is not held, or does not result in a settlement of a complaint, a hearing on the complaint shall be held as provided in chapter 4 of Act No. 306 of the Public Acts of 1969.  History: 1987, Act 173, Imd. Eff. Nov. 18, 1987 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and 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 § 445.1668b (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1668b - Hearing; Final Decision; Judicial Review; Effect of Review on Order.

445.1668b Hearing; final decision; judicial review; effect of review on order. Sec. 18b.  (1) A hearing under section 16 or 18a shall be conducted under the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328. Within 30 days after the commissioner has notified the parties that the case has been submitted to him or her for final decision, the commissioner shall render a decision that shall include findings of fact supporting the decision and serve upon each party to the proceeding a copy of the decision and an order consistent with the decision.  (2) Except for a consent order, a party to the proceeding, or a person affected by an order issued under section 16 or 18a may obtain a judicial review of the order. A consent order may be reviewed as provided under the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328. Except for an order under judicial review, the commissioner may terminate or set aside any order. The commissioner may terminate or set aside an order under judicial review with the permission of the court.  (3) Unless ordered by the court, the commencement of proceedings for judicial review under subsection (2) does not stay the commissioner's order. History: Add. 2002, Act 391, Imd. Eff. May 30, 2002
MI Comp L § 445.1668c (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1668c - Enforcement of Order; Jurisdiction.

445.1668c Enforcement of order; jurisdiction. Sec. 18c.  The commissioner may apply to the circuit court of Ingham county for the enforcement of any outstanding order issued under section 15, 16, or 18a. History: Add. 2002, Act 391, Imd. Eff. May 30, 2002
MI Comp L § 445.1668d (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1668d - Violation as Misdemeanor; Penalty.

445.1668d Violation as misdemeanor; penalty. Sec. 18d.  Any current or former executive officer, director, agent, or control person who violates a final order issued under section 18a is guilty of a misdemeanor punishable by a fine of not more than $5,000.00 or imprisonment for not more than 1 year, or both. History: Add. 2002, Act 391, Imd. Eff. May 30, 2002
MI Comp L § 445.1668e (2021)
2021 Michigan Compiled Laws|Chapter 445 - Trade and Commerce|Act 173 of 1987 - Mortgage Brokers, Lenders, and Servicers Licensing Act (445.1651 - 445.1684)|Section 445.1668e - Violation of Order; Exceptions.

445.1668e Violation of order; exceptions. Sec. 18e.  A control person who is subject to an order issued under section 18a and who meets all of the following requirements is not in violation of the order:  (a) The control person shall not in any manner, directly or indirectly, participate in the control of a licensee or registrant after the date the order is issued.  (b) The control person shall within 6 months after the date the order is final transfer any interest the control person owns in a licensee or registrant to an unrelated third party. History: Add. 2002, Act 391, Imd. Eff. May 30, 2002