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MICHIGAN STATUTES AND CODES
Act 250 of 2006 - MONEY TRANSMISSION SERVICES ACT (487.1001 - 487.1047)
- Section 487.1001 - Short title.
- Section 487.1002 - Definitions; A to L.
- Section 487.1003 - Definitions; M to T.
- Section 487.1004 - Applicability of act.
- Section 487.1011 - Money transmission services; license required; exception.
- Section 487.1012 - License application; form; information required.
- Section 487.1013 - Financial statements; net worth; qualification to do business; application fee; surety bond; aggregate liability of surety; limitation.
- Section 487.1014 - Investigation; completed application; time period; issuance of license; fee; extension of time period; denial; request for hearing.
- Section 487.1015 - Fee schedule; expiration and renewal of license.
- Section 487.1016 - Travel expenses; recovery of fees and fines; collection; disposition.
- Section 487.1021 - Information obtained in examination or investigation; disclosure prohibited.
- Section 487.1022 - Joint examination or investigation.
- Section 487.1023 - Changed information; filing; events requiring filing of report.
- Section 487.1024 - Proposed change of control of licensee; request for approval; additional information; approval by commissioner; determination.
- Section 487.1025 - Records.
- Section 487.1026 - Disclosure of information.
- Section 487.1031 - Permissible investments.
- Section 487.1032 - Investments permitted under MCL 487.1031; limitation.
- Section 487.1033 - Agreement between licensee and authorized delegate.
- Section 487.1034 - Authorized delegate; prohibited conduct; duties.
- Section 487.1041 - Denying, suspending, not renewing, or revoking license; placing license in receivership; revoking designation of authorized delegate; conditions.
- Section 487.1042 - Violations; penalties; restitution.
- Section 487.1043 - Summary suspension order.
- Section 487.1044 - Cease and desist order.
- Section 487.1045 - Rules.
- Section 487.1046 - Civil fine.
- Section 487.1047 - Order suspending or prohibiting person from being licensee and from being employed by, agent of, or control person of licensee.
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