Section 446.117 - Information to be disclosed before entering agreement. - Michigan Statutes

REFUND ANTICIPATION LOAN DISCLOSURE ACT (EXCERPT)
Act 66 of 2009

446.117 Information to be disclosed before entering agreement.

Sec. 7.

Before entering into a refund anticipation loan agreement, the facilitator shall clearly disclose both of the following to the taxpayer:

(a) The estimated total fees for the refund anticipation loan.

(b) The estimated annual percentage rate for the refund anticipation loan.

History: 2009, Act 66, Imd. Eff. July 9, 2009