Standards; Uniformity; Preemption - Mich. Comp. Laws Section 445.1645
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Michigan Laws > Trade And Commerce > Standards; Uniformity; Preemption - Mich. Comp. Laws Section 445.1645
445.1645 Standards; uniformity; preemption.
Sec. 15.
(1) The laws of this state relating to the brokering, making, servicing, and collecting of mortgage loans prescribe rules of conduct upon citizens generally, comprise a comprehensive regulatory framework intended to operate uniformly throughout the state under the same circumstances and conditions, and constitute general laws of this state.
(2) Silence in the statutes of this state with respect to any act or practice in the brokering, making, servicing, or collecting of mortgage loans shall not be interpreted to mean that the state has not completely occupied the field or has only set minimum standards in its regulation of brokering, making, servicing, or collecting of mortgage loans.
(3) It is the intent of the legislature to entirely preempt municipal corporations and other political subdivisions from the regulation and licensing of persons engaged in the brokering, making, servicing, or collecting of mortgage loans in this state.
History: 2002, Act 660, Imd. Eff. Dec. 23, 2002
Section: 445.1638 445.1639 445.1640 445.1641 445.1642 445.1643 445.1644 445.1645 445.1651 445.1651a 445.1652 445.1653 445.1654 445.1655 445.1656
Last modified: March 17, 2013
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