Michigan Compiled Laws 332-1965-3 Part 3 (445.1301...445.1309)

• Section 445.1301 Finance Charges.
  (1) The maximum finance charge included in a home improvement installment contract payable in substantially equal successive monthly installments beginning 1 month from the...
• Section 445.1302 Division Of Transaction Prohibited.
  A contractor shall not induce or permit a buyer to split up or divide any transaction that otherwise would be a home improvement installment...
• Section 445.1303 Payment Of Contract In Full Before Maturity; Refund Credit.
  (1) Notwithstanding the provisions of a home improvement installment contract to the contrary, a buyer may pay the contract in full at any time...
• Section 445.1304 Scheduled Payments; Extension Of Due Date; Deferral Charge.
  The holder of a home improvement installment contract, upon agreement in writing with the buyer, may extend the scheduled due date or defer the...
• Section 445.1305 Refinancing Payment Of Unpaid Balance; Refinance Charge, Computation; Refinancing Agreement, Consolidation Of Contracts.
  The holder of a home improvement installment contract, upon agreement in writing with the buyer, may refinance the payment of the unpaid time balance...
• Section 445.1306 Add-on Sales; Optional Contract Provisions; Finance Charges, Insurance.
  A home improvement installment contract may provide that the contractor may at his option add to the contract subsequent home improvement installment sales made...
• Section 445.1307 Finance Charge; Computation, Maximum Sale.
  Subject to the provisions of section 301, the finance charge to be included in a consolidated time balance shall be determined by applying a...
• Section 445.1308 Subsequent Sale; Memorandum, Contents.
  When a subsequent home improvement installment sale is made, the contractor shall deliver to the buyer, at the time the contract is executed, a...
• Section 445.1309 Optional Method Of Computing Finance Charge.
  Instead of a finance charge computed on the principal amount financed as determined under section 203 or 308, the seller may charge from time...

Last modified: October 10, 2016