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Code · Michigan · Chapter 446 — Business Regulation

446.135 Refund anticipation loan; certain conduct by facilitator prohibited.

113 words·~1 min read·/mi/chapter-446/446-135

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446.135 Refund anticipation loan; certain conduct by facilitator prohibited.
Sec. 5.
A facilitator that facilitates or offers to facilitate a refund anticipation loan shall not do any of the following:
(a)Require a consumer to enter into a refund anticipation loan arrangement in order to complete a tax return.
(b)Misrepresent a material factor or condition of granting a refund anticipation loan.
(c)Fail to process the application for a refund anticipation loan after an applicant applies for the refund anticipation loan.
(d)Engage in any fraudulent transaction, practice, or course of business with any person in connection with a refund anticipation loan.
History: 2009, Act 67 , Imd. Eff. July 9, 2009
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