Mich. Admin. Code R. 451.1230
Current through Vol. 24-24, January 15, 2025
Rule 10. Upon written notice of cancellation of a contract, the firm shall promptly refund to the debtor all the amounts due the debtor. Failure to make prompt repayment shall constitute an unethical business practice, and may constitute grounds for summary suspension. The firm shall not be required to stop payment of checks to creditors pursuant to this cancellation, and may retain in the account funds relating to lost checks for subsequent reissue to the same creditor.
Mich. Admin. Code R. 451.1230