Michigan Compiled Laws Act 424 Of 1984 Rental-purchase Agreement Act (445.951 - 445.970)

• Section 445.951 Short Title.
  This act shall be known and may be cited as the “rental-purchase agreement act”. History: 1984, Act 424, Eff. Mar. 29, 1985
• Section 445.952 Definitions.
  As used in this act: (a) “Lessee” means a person who leases property pursuant to a rental-purchase agreement. (b) “Lessor” means a person who,...
• Section 445.953 Rental-purchase Agreement; Form; Contents; Information Requirements; Separate Form; Disclosure Of Additional Information.
  (1) A rental-purchase agreement shall be in the form of a written statement which shall include all of the following: (a) A brief description...
• Section 445.954 Amount Necessary To Acquire Ownership; Amount Applied Toward Purchase Price.
  (1) The amount to be paid by the lessee to acquire ownership as disclosed in section 3(j) shall not be greater than the cash...
• Section 445.955 Advertising Requirements; Requirements As To Items Displayed Or Offered Under Rental-purchase Agreement.
  (1) An advertisement for any rental-purchase agreement shall not state that a specific lease of any property at specific amounts or terms is available...
• Section 445.956 Prohibited Provisions In Rental-purchase Agreement.
  A rental-purchase agreement shall not contain a provision requiring any of the following: (a) A garnishment of wages or a power of attorney to...
• Section 445.957 Prohibited Requirements.
  A lessor shall not require any of the following: (a) The purchase of insurance by the lessee from the lessor of a leased item....
• Section 445.958 Failure To Make Timely Periodic Payment; Rights Of Lessee; Reinstatement; Late Or Delivery Fee; Same Or Substitute Item Provided On Reinstatement.
  (1) A lessee who fails to make a timely periodic payment may reinstate the original rental-purchase agreement without losing any rights or options previously...
• Section 445.959 Temporary Or Permanent Injunction; Venue; Costs; Civil Penalty; Notice Of Intended Action; Opportunity To Cease And Desist Or To Confer With Attorney General; Notice Of Alleged Violation; Civil Penalty For Knowing Violation.
  (1) When the attorney general has probable cause to believe that a person has engaged, is engaging, or is about to engage in a...
• Section 445.960 Assurance Of Discontinuance.
  (1) When the attorney general has authority to institute an action or proceeding pursuant to section 9, the attorney general may accept an assurance...
• Section 445.961 Subpoena; Service And Contents Of Notice; Extension Of Reporting Date; Modification Or Setting Aside Of Notice And Subpoena; Confidentiality; Disclosures; Disclosure As Misdemeanor; Penalty.
  (1) Upon the ex parte application of the attorney general to the circuit court in the county where the defendant is established or conducts...
• Section 445.962 Compliance With Terms Of Notice; Prohibited Conduct; Civil Penalty; Petition For Order To Enforce Compliance; Violation Of Final Order As Civil Contempt; Enjoining Person From Doing Business In State.
  (1) A person upon whom a notice is served pursuant to section 11 shall comply with the terms of the notice unless otherwise provided...
• Section 445.963 Class Action For Actual Damages; Order; Appointment Of Receiver; Sequestration Of Assets; Cost Of Notice; Effect Of Bona Fide Error; Limitations.
  (1) The attorney general may bring a class action on behalf of persons residing in or injured in this state for the actual damages...
• Section 445.964 Action For Declaratory Judgment Or Injunction; Action For Actual Damages And Attorneys' Fees; Class Action For Actual Damages; Order; Appointment Of Receiver; Sequestration Of Assets; Cost Of Notice To Class; Effect Of Bona Fide Effort; Limitations; Defense Or Counterclaim.
  (1) Whether or not a person seeks damages or has an adequate remedy at law, a person may bring an action to do either...
• Section 445.965 Mailing Copy Of Complaint, Judgment, Decree, Or Order To Attorney General.
  (1) Upon commencement of an action brought pursuant to section 14 or 18, the clerk of the court shall mail a copy of the...
• Section 445.966 Payment Of Filing Fees.
  Payment of filing fees shall not be required in an action or filing for a voluntary assurance by the attorney general or prosecuting attorney...
• Section 445.967 Aid And Assistance Of Law Enforcement Officer.
  A law enforcement officer in the state, if requested by the attorney general or a prosecuting attorney, shall aid and assist in an investigation...
• Section 445.968 Investigation And Prosecution By Prosecuting Attorney.
  A prosecuting attorney may conduct an investigation pursuant to this act and may institute and prosecute an action under this act in the same...
• Section 445.969 Other Causes Of Action Not Affected; Inconsistent Ordinance Or Regulation Prohibited.
  This act shall not affect any other cause of action which is available. A city, village, township, or county shall not enact an ordinance...
• Section 445.970 Example Of Form Satisfying Requirements Of Act.
  The following form is an example of the form which may be used to satisfy the requirements of this act:  RENTAL-PURCHASE AGREEMENT 1. Lessor(s)  Lessee(s)...

Last modified: October 10, 2016