Section 451.421 - License; applicable provisions. - Michigan Statutes

DEBT MANAGEMENT ACT (EXCERPT)
Act 148 of 1975

451.421 License; applicable provisions.

Sec. 11.

All of the following apply to a license:

(a) The director shall prescribe the form and size of a license.

(b) A license shall show the name of the licensee and the address at which the business of debt management is to be conducted.

(c) A license shall show the date of expiration of the license as December 31, and show other information prescribed by the director.

(d) While in force, the license shall at all times be conspicuously displayed in the outer office of the licensee or branch office of the licensee.

(e) A license is not transferable or assignable.

(f) A license shall be surrendered to the department within 5 days after the date that the licensee either ceases to engage in the business of debt management or has its license revoked.

History: 1975, Act 148, Eff. Mar. 31, 1976 ;-- Am. 2000, Act 255, Imd. Eff. June 29, 2000
Compiler's Notes: For transfer of statutory authority, powers, duties, and functions of the corporations, securities and land development bureau to the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.