Mich. Comp. Laws § 487.2159

Current through Public Act 57 of the 2024 Legislative Session
Section 487.2159 - Agreements; maintenance; availability for examination; rejected applications
(1) A licensee shall maintain each deferred presentment service agreement until the expiration of 3 years after the date the deferred presentment service agreement is satisfied and make available for examination by the commissioner any deferred presentment service agreements and all related documents in its possession or control including, but not limited to, any applications, credit reports, employment verifications, or loan disclosure statements.
(2) A licensee shall preserve and keep available for examination by the commissioner all documents pertaining to a rejected application for a deferred presentment service transaction for any period of time required by law.

MCL 487.2159

Added by 2005, Act 244, s 23, eff. 11/28/2005.