Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in 1971 PA 227. Amends sec. 1 of 1971 PA 227 (MCL 445.111). TIE BAR WITH: HB 6177'26

Also relevant to:Homeowner

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Plain-English Summary

This bill amends an existing act about home and telephone solicitation sales in Michigan. It updates definitions related to "home solicitation sale," "business day," and "telephone solicitation," clarifying what types of sales and communications are included or excluded. The bill also specifies that it will not take effect unless another related House Bill, No. 6177, is also passed into law.

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Votes

Sponsorship · 2 Sponsors

Democrat0Republican2Independent0Other0

R · PrimeBill Schuette
R · CoMark Tisdel

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