Installment Seller of Motor Vehicles; Sales Finance Company; License Required - Mich. Comp. Laws Section 492.103
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Michigan Laws > Installment Sales Of Motor Vehicles > Installment Seller of Motor Vehicles; Sales Finance Company; License Required - Mich. Comp. Laws Section 492.103
492.103 Installment seller of motor vehicles; sales finance company; license required.
Sec. 3.
Except for a person licensed under the consumer financial services act, a person shall not engage in this state as a principal, employee, agent, or broker in either of the following unless that person is licensed as provided in this act:
(a) The business of an installment seller of motor vehicles under installment sale contracts.
(b) The business of a sales finance company.
History: 1950, Ex. Sess., Act 27, Eff. Mar. 31, 1951
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Am. 1988, Act 163, Eff. Sept. 1, 1988
Section: 492.25 492.27 492.29 492.31 492.33 492.101 492.102 492.103 492.104 492.105 492.106 492.106a 492.107 492.108 492.109
Last modified: March 17, 2013
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