Section 493.56b – Powers of Commissioner.
493.56b Powers of commissioner. Sec. 6b. (1) The commissioner shall exercise general supervision and control over brokers, lenders, and servicers doing business in this state. (2) In addition to the other powers granted by this act, the commissioner may do any of the following: (a) Deny an application for a license or registration. (b) Conduct […]
Section 493.57 – Repealed. 1997, Act 91, Imd. Eff. Aug. 1, 1997.
493.57 Repealed. 1997, Act 91, Imd. Eff. Aug. 1, 1997. Compiler’s Notes: The repealed section pertained to duties of commissioner upon refusal to issue license.Popular Name: Secondary Mortgage Loan Act
Section 493.51 – Short Title; Definitions.
493.51 Short title; definitions. Sec. 1. (1) This act shall be known and may be cited as “the secondary mortgage loan act”. (2) As used in this act: (a) “Broker” means a person who, directly or indirectly, does 1 or both of the following: (i) Serves or offers to serve as an agent for a […]