750.417a Vehicle, watercraft, or aircraft subject to conditional sales contract, security agreement, or lease contract; written consent required for lease or sublease; vi
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/mi/chapter-750/750-417aA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
750.417a Vehicle, watercraft, or aircraft subject to conditional sales contract, security agreement, or lease contract; written consent required for lease or sublease; violation as misdemeanor; court action; construction of section.
Sec. 417a.
(1)A person other than the buyer shall not assist, cause, arrange, or induce the buyer of a vehicle, watercraft, or aircraft that is subject to a conditional sales contract or security agreement to lease or sublease the vehicle, watercraft, or aircraft to another person without first obtaining written consent to the lease or sublease from the holder of the security agreement.
(2)A person other than a party to the lease shall not assist, cause, arrange, or induce the lessee of a vehicle, watercraft, or aircraft that is subject to a lease contract to sublease the vehicle, watercraft, or aircraft to another person without first obtaining written consent to the sublease from the lessor under the lease contract.
(3)A person who violates this section is guilty of a misdemeanor, punishable by imprisonment for not more than 1 year, or by a fine of not more than $10,000.00, or both.
(4)A person who suffers a loss as a result of a violation of this section may bring an action in a court of competent jurisdiction to recover 1 or more of the following:
(a)An injunction or restraining order enjoining a person from engaging in a method, act, or practice which is a violation of this section.
(b)Any other equitable relief.
(5)This section shall not be construed to limit the rights or duties a person may have under any other law.
History: Add. 1994, Act 140, Eff. Mar. 30, 1995