Section 445.1306 – Add-on Sales; Optional Contract Provisions; Finance Charges, Insurance.
445.1306 Add-on sales; optional contract provisions; finance charges, insurance. Sec. 306. A home improvement installment contract may provide that the contractor may at his option add to the contract subsequent home improvement installment sales made by such contractor to the buyer, and that the total time balance of the goods and services covered by the […]
Section 445.1206 – Home Improvement Installment Contract and Home Improvement Charge Agreement; Prohibited Provisions.
445.1206 Home improvement installment contract and home improvement charge agreement; prohibited provisions. Sec. 206. (1) A home improvement installment contract or home improvement charge agreement shall not contain any provision by which: (a) The buyer agrees not to assert against a contractor a claim or defense arising out of the home improvement installment sale or […]
Section 445.1207 – Evidence of Obligation; Holder Subject to Claims and Defenses of Buyer; Limitation on Buyer’s Recovery.
445.1207 Evidence of obligation; holder subject to claims and defenses of buyer; limitation on buyer’s recovery. Sec. 207. Notwithstanding the provisions of any other law and notwithstanding any agreement to the contrary: (a) A person shall not take a negotiable instrument, other than a currently dated check or draft, as evidence of the obligation of […]
Section 445.1208 – Repealed. 1972, Act 193, Eff. Jan. 1, 1973.
445.1208 Repealed. 1972, Act 193, Eff. Jan. 1, 1973. Compiler’s Notes: The repealed section pertained to assignments of home improvement installment contracts.
Section 445.1209 – Home Improvement Installment Contract; Provisions as to Delinquency and Collection Charges, Court Costs and Attorney Fees.
445.1209 Home improvement installment contract; provisions as to delinquency and collection charges, court costs and attorney fees. Sec. 209. A home improvement installment contract may provide for the payment by the buyer of a delinquency and collection charge on each installment in default for a period of not less than 10 days in an amount […]
Section 445.1101 – Home Improvement Finance Act; Short Title.
445.1101 Home improvement finance act; short title. Sec. 101. This act shall be known and may be cited as the “home improvement finance act”. History: 1965, Act 332, Eff. Jan. 1, 1966
Section 445.1102 – Definitions.
445.1102 Definitions. Sec. 102. As used in this act, except where the context clearly indicates otherwise: (a) “Banking institution” means a bank, bank and trust company, trust company, savings bank, private bank, or a national banking association, organized and doing business under the provisions of any law of this state, or of any other state […]
Section 445.1111 – Effect of Compliance With Truth in Lending Act.
445.1111 Effect of compliance with truth in lending act. Sec. 111. Compliance with the requirements of the truth in lending act, title I of Public Law 90-321, 15 U.S.C. 1601 to 1608, 1610 to 1613, 1615, 1631 to 1635, 1637 to 1638, 1640 to 1647, and 1661 to 1667e, is compliance with the disclosure provisions […]
Section 445.1201 – Home Improvement Installment Contract; Date, Form.
445.1201 Home improvement installment contract; date, form. Sec. 201. A home improvement installment contract shall be dated and in writing and the printed portion thereof shall be in at least 8-point type. History: 1965, Act 332, Eff. Jan. 1, 1966
Section 445.1202 – Home Improvement Installment Contract; Contents Required.
445.1202 Home improvement installment contract; contents required. Sec. 202. A home improvement installment contract shall contain: (a) The entire agreement of the parties with respect to the goods and services. (b) Either at the top of the contract or directly above the space reserved for the signature of the buyer, the words “home improvement installment […]