reglab/housing_qa huggingface dataset:
MI Comp L § 487.2060h (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2060h - Hearing; Decision; Findings; Judicial Review; Stay.

487.2060h Hearing; decision; findings; judicial review; stay. Sec. 10h.  (1) A hearing under section 10 or 10g 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 10 or section 10g 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 390, Imd. Eff. May 30, 2002
MI Comp L § 487.2060i (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2060i - Enforcement of Order; Jurisdiction.

487.2060i Enforcement of order; jurisdiction. Sec. 10i.  The commissioner may apply to the circuit court of Ingham county for the enforcement of any outstanding order issued under section 10, 10f, or 10g. History: Add. 2002, Act 390, Imd. Eff. May 30, 2002
MI Comp L § 487.2060j (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2060j - Violation as Misdemeanor; Penalty.

487.2060j Violation as misdemeanor; penalty. Sec. 10j.  Any current or former executive officer, director, agent, or control person who violates a final order issued under section 10g 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 390, Imd. Eff. May 30, 2002
MI Comp L § 487.2060k (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2060k - Violation of Order; Exceptions.

487.2060k Violation of order; exceptions. Sec. 10k.  A control person who is subject to an order issued under section 10g(6) 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 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 to an unrelated third party. History: Add. 2002, Act 390, Imd. Eff. May 30, 2002
MI Comp L § 487.2061 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2061 - Annual Schedule of Fees; Fees Nonrefundable; Action for Recovery of Fees or Penalties; Disposition of Money Received.

487.2061 Annual schedule of fees; fees nonrefundable; action for recovery of fees or penalties; disposition of money received. Sec. 11.  (1) The commissioner shall annually establish a schedule of fees sufficient to pay in full the bureau's costs of administering this act. The fees are as follows:  (a) For an application fee, not less than $500.00 or more than $2,000.00. However, if an applicant has 1 or more licenses under the financial licensing acts, the application fee shall be not less than $100.00 or more than $700.00.  (b) For amending or reissuing a license, not less than $50.00 or more than $100.00.  (c) An annual operating fee based upon the volume and types of activities conducted by the licensee during the previous calendar year. The annual operating fee set by the commissioner under this subsection shall be based upon information in reports filed under section 15.  (d) A licensee shall pay the actual travel, lodging, and meal expenses incurred by bureau employees who travel out of state to examine the records of or investigate the licensee.  (2) Fees received under this act are not refundable, except that if an application for license is not approved, the bureau shall refund the prepaid annual operating fee.  (3) If any fees or penalties provided for in this act are not paid when required, the attorney general may maintain an action against the delinquent licensee for the recovery of the fees or penalties, together with interest and costs.  (4) Money received under this act shall be paid into the state treasury and credited to the financial institutions bureau for the operation of the bureau. History: 1988, Act 161, Eff. Sept. 1, 1988 ;-- Am. 1992, Act 76, Imd. Eff. June 2, 1992 ;-- Am. 1999, Act 275, Imd. Eff. Jan. 5, 2000 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 § 487.2062 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2062 - Investigation of Business Activities; Examination of Books, Accounts, Records, and Files; Additional Reports; Audit and Management Letter.

487.2062 Investigation of business activities; examination of books, accounts, records, and files; additional reports; audit and management letter. Sec. 12.  (1) The commissioner at any time may investigate the business activities as the commissioner considers necessary, may examine the books, accounts, records, and files used and maintained by any licensee, and may require the licensee to furnish additional reports relating to the licensee's business.   (2) The commissioner may accept an audit and management letter regarding the affairs of any licensee under this act, if made by a certified public accountant.  History: 1988, Act 161, Eff. Sept. 1, 1988 ;-- Am. 1992, Act 76, Imd. Eff. June 2, 1992 ;-- Am. 1999, Act 275, Imd. Eff. Jan. 5, 2000 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 § 487.2063 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2063 - Repealed. 1999, Act 275, Imd. Eff. Jan. 5, 2000.

487.2063 Repealed. 1999, Act 275, Imd. Eff. Jan. 5, 2000. Compiler's Notes: The repealed section pertained to disposition and use of money received.
MI Comp L § 487.2064 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2064 - Records.

487.2064 Records. Sec. 14.  (1) A licensee under this act shall maintain records relating to all transactions under this act so that the commissioner may enforce compliance with this act. Records shall be made available to the commissioner during normal business hours upon request.  (2) A licensee shall preserve and keep available for examination by the commissioner each loan document in its possession or control, including the application, credit report, employment verification, loan disclosure statement, and settlement statement, until the loan is transferred or assigned, or the expiration of 2 years after the date the loan is made, whichever occurs first.  (3) If the loan is transferred or assigned, the licensee shall preserve and keep available for examination by the commissioner, as applicable, copies of the promissory note, mortgage, truth-in-lending disclosure statement, and settlement statement in its possession or control for 3 years after the date the loan is transferred or assigned.  (4) Notwithstanding any other provision of this act, each licensee shall preserve and keep available for examination by the commissioner all documents pertaining to a rejected loan application for a period of time required by state or federal law.  (5) A licensee shall preserve all other books, accounts, records, documents, and files pertaining to the licensee's business and keep them available for examination by the commissioner for not less than 2 years after the conclusion of the fiscal year of the licensee in which the book, account, record, document, or file was created.  (6) The requirements of this section shall not be construed to prohibit keeping records by electronic data processing methods. History: 1988, Act 161, Eff. Sept. 1, 1988 ;-- Am. 1999, Act 275, Imd. Eff. Jan. 5, 2000 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 § 487.2065 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2065 - Annual Report; Failure to File Report; Penalty.

487.2065 Annual report; failure to file report; penalty. Sec. 15.  (1) A licensee shall annually on or before a date established by the commissioner file with the commissioner a report, on a form provided by the commissioner, stating the licensee's volume and types of business activities for the immediately preceding calendar year. The commissioner shall provide at least 30 days' advance notice of the date each report is due.  (2) The fine for failure to file a report required by this act is $25.00 for each day the report is delinquent or $1,000.00, whichever is less. Failure to file a report required by this act may result in nonrenewal of the license by the commissioner. History: 1988, Act 161, Eff. Sept. 1, 1988 ;-- Am. 1992, Act 76, Imd. Eff. June 2, 1992 ;-- Am. 1999, Act 275, Imd. Eff. Jan. 5, 2000 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 § 487.2066 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2066 - Conservatorship or Receivership.

487.2066 Conservatorship or receivership. Sec. 16.  Notwithstanding licensing under this act, if a licensee engaging in the issue or sale of checks that would otherwise be subject to the sale of checks act, 1960 PA 136, MCL 487.901 to 487.916, has refused to pay its debts in the ordinary course of business, is unable to pay its obligations generally as they become due, or has liabilities exceeding its assets or whenever it appears to the commissioner that a licensee is in an unsafe or unsound condition, the commissioner may appoint a conservator or, with the attorney general representing the commissioner, may apply to the circuit court for the county in which the licensee is located for the appointment of a receiver for the licensee. The commissioner may require of the conservator a bond and security as the commissioner considers necessary. History: 1988, Act 161, Eff. Sept. 1, 1988 ;-- Am. 1999, Act 275, Imd. Eff. Jan. 5, 2000 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 § 487.2066a (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2066a - Licensee Engaged in Loan Servicing Activities; Appointment of Conservator or Receiver.

487.2066a Licensee engaged in loan servicing activities; appointment of conservator or receiver. Sec. 16a.  If the commissioner determines that a licensee engaging in loan servicing activities, intentionally or as a result of gross or wanton negligence, is not servicing, as applicable, mortgage loans or secondary mortgage loans as required by law or by the terms of the servicing contracts, the commissioner may appoint a conservator for the licensee and require the conservator to provide a bond or security as the commissioner considers necessary. Alternatively, the commissioner, through the attorney general, may apply to the circuit court for the county in which the licensee is located for the appointment of a receiver for the licensee. History: Add. 1999, Act 275, Imd. Eff. Jan. 5, 2000 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 § 487.2067 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2067 - Prohibited Activities or Practices.

487.2067 Prohibited activities or practices. Sec. 17.  A licensee under this act shall not do any of the following:  (a) Engage in the business of a real estate broker or real estate salesperson licensed under article 25 of the occupational code, 1980 PA 299, MCL 339.2501 to 339.2518.  (b) Engage in the business of a pawnbroker licensed under 1917 PA 273, MCL 446.201 to 446.219.  (c) Engage in the business of a debt management company licensed under the debt management act, 1975 PA 148, MCL 451.411 to 451.437.  (d) Entering into a tying arrangement through which the licensee conditions the sale of 1 financial service to a consumer on the agreement by the consumer to purchase 1 or more other financial services from the licensee, an affiliate, or subsidiary of the licensee.  (e) Knowingly permit a person to violate an order that has been issued under this act or any other financial licensing act that prohibits that person from being employed by, an agent of, or a control person of the licensee. History: 1988, Act 161, Eff. Sept. 1, 1988 ;-- Am. 1999, Act 275, Imd. Eff. Jan. 5, 2000 ;-- Am. 2002, Act 390, Imd. Eff. May 30, 2002 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 § 487.2068 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2068 - Rules.

487.2068 Rules. Sec. 18.  The commissioner shall promulgate rules that are necessary for the enforcement of this act in accordance with 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. History: 1988, Act 161, Eff. Sept. 1, 1988 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 § 487.2069 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2069 - Obligation of Contract Party Not Impaired or Affected.

487.2069 Obligation of contract party not impaired or affected. Sec. 19.  This act shall not be construed to impair or affect the obligation of any party to a contract entered into under a provision of the financial licensing acts. History: 1988, Act 161, Eff. Sept. 1, 1988 ;-- Am. 1999, Act 275, Imd. Eff. Jan. 5, 2000 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 § 487.2070 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2070 - Action by Person, County Prosecuting Attorney, or Attorney General.

487.2070 Action by person, county prosecuting attorney, or attorney general. Sec. 20.  A person, county prosecuting attorney, or the attorney general may bring an action to:  (a) Obtain a declaratory judgment that a method, act, or practice is in violation of this act.  (b) Enjoin a person who is engaging or is about to engage in a method, act, or practice which violates this act.  (c) Recover actual damages resulting from a violation of this act, or $250.00, whichever is greater, together with reasonable attorney's fees and the costs of bringing the action. History: 1988, Act 161, Eff. Sept. 1, 1988 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 § 487.2071 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2071 - Effective Date.

487.2071 Effective date. Sec. 21.  This act shall take effect September 1, 1988. History: 1988, Act 161, Eff. Sept. 1, 1988 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 § 487.2072 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 161 of 1988 - Consumer Financial Services Act (487.2051 - 487.2072)|Section 487.2072 - Conditional Effective Date.

487.2072 Conditional effective date. Sec. 22.  This act shall not take effect unless all of the following bills of the 84th Legislature are enacted into law:  (a) House Bill No. 5209.  (b) House Bill No. 5210.  (c) House Bill No. 5211.  (d) House Bill No. 5212.  (e) House Bill No. 5213.  (f) House Bill No. 5364. History: 1988, Act 161, Eff. Sept. 1, 1988 Compiler's Notes: The following bills, referred to in this section, were enacted into law:House Bill No. 5209 was filed with the Secretary of State June 14, 1988, and became P.A. 1988, No. 162, Eff. Sept. 1, 1988.House Bill No. 5210 was filed with the Secretary of State June 14, 1988, and became P.A. 1988, No. 163, Eff. Sept. 1, 1988.House Bill No. 5211 was filed with the Secretary of State June 14, 1988, and became P.A. 1988, No. 164, Eff. Sept. 1, 1988.House Bill No. 5212 was filed with the Secretary of State June 14, 1988, and became P.A. 1988, No. 165, Eff. Sept. 1, 1988.House Bill No. 5213 was filed with the Secretary of State June 14, 1988, and became P.A. 1988, No. 166, Eff. Sept. 1, 1988.House Bill No. 5364 was filed with the Secretary of State June 14, 1988, and became P.A. 1988, No. 159, Eff. Sept. 1, 1988.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 § 487.2081 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 344 of 2020 - Financial Exploitation Prevention Act (487.2081 - 487.2091)|Section 487.2081 - Short Title.

487.2081 Short title.Sec. 1.  This act shall be known and may be cited as the "financial exploitation prevention act". History: 2020, Act 344, Eff. Sept. 26, 2021