125.2324 Mobile home dealer; prohibited conduct.
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125.2324 Mobile home dealer; prohibited conduct.
Sec. 24.
A mobile home dealer shall not:
(a)Advertise or represent a mobile home as other than calendar or model year.
(b)Misapply consumer deposits on a mobile home or a mobile home park.
(c)Fail to place deposits, down payments, or similar payments for the purchase or right to purchase a mobile home in a separate escrow account subject to return upon cancellation of the purchase order by the prospective purchaser under the rules or orders as the commission promulgates or issues unless the dealer shall post a bond or a deposit of cash or securities for protection of these payments in an amount acceptable to the commission.
(d)Fail to disclose to the department any direct or indirect business relationships with financial and loan institutions, banks, and insurance companies.
History: 1987, Act 96, Imd. Eff. July 6, 1987
Admin Rule: R 125.1101 et seq. of the Michigan Administrative Code.