AN ACT to prescribe certain duties and obligations of the parties to a refund anticipation loan; and to prescribe penalties.
History: 2009, Act 67, Imd. Eff. July 9, 2009
Section 446.131 Short Title.
This act shall be known and may be cited as the "refund anticipation loan act". History: 2009, Act 67, Imd. Eff. July 9, 2009
Section 446.133 Definitions Of Certain Terms.
As used in this act, "facilitator", "lender", "person", and "refund anticipation loan fee" mean those terms as defined in the refund anticipation loan disclosure...
Section 446.137 Rescission.
A borrower who obtains a refund anticipation loan may rescind the refund anticipation loan, on or before the close of business on the business...
Section 446.139 Violation As Misdemeanor; Penalty.
A person, including, but not limited to, a facilitator or a member, officer, director, agent, or employee of a facilitator, that violates or participates...
Section 446.141 Preemption.
A political subdivision of this state shall not adopt any rule, regulation, code, or ordinance to restrict or limit any requirements under this act...