339.901 Definitions. Sec. 901. (1) As used in this article: (a) “Claim” or “debt” means an obligation or alleged obligation for the payment of money or thing of value arising out of an expressed or implied agreement or contract for a purchase made primarily for personal, family, or household purposes. (b) “Collection agency” means a […]
339.902 Collection practices board; creation. Sec. 902. A collection practices board is created. History: 1980, Act 299, Imd. Eff. Oct. 21, 1980 Popular Name: Act 299
339.903 Pretended purchase or assignment of account; applicability of article. Sec. 903. This article applies to a person who, by a device, subterfuge, or pretense, makes a pretended purchase or takes a pretended assignment of an account from another person to evade this article. History: 1980, Act 299, Imd. Eff. Oct. 21, 1980 Popular Name: […]
339.904 Collection agency; license required for each place of business; exceptions to licensing requirement of subsection (1); qualifications of applicant. Sec. 904. (1) Except as otherwise provided in this article, a person shall not operate a collection agency or commence in the business of a collection agency without first applying for and obtaining a license […]
339.905 Repealed. 1988, Act 463, Eff. Sept. 1, 1989. Compiler’s Notes: The repealed section pertained to licensing of collection agency.Popular Name: Act 299
339.906 Collection agency; license nontransferable; notification of changes in corporate structure, partnership, name, or address. Sec. 906. A collection agency license is not transferable to another person or location. Notification of changes in the corporate structure, partnership, name, or address shall be submitted in writing within 30 days after the date of the change. History: […]
339.907 Corporate surety or cash bond; action on bond; aggregate liability; cancellation of bond. Sec. 907. The department shall require a collection agency to file and maintain in force for each license a corporate surety or a cash bond conditioned upon the faithful accounting of all money collected upon accounts entrusted to the collection agency […]
339.908 “Owner manager” defined; personal supervision of collection agency by licensed collection agency manager or owner manager; notice; limitation. Sec. 908. (1) As used in this section, “owner manager” means a person who does all of the following: (a) Obtains a license under section 904 as an individual, a partner in a partnership, or an […]
339.909 Separate trust account; maintenance by collection agency; designation as trust account; disbursements and withdrawals. Sec. 909. (1) A collection agency shall maintain a separate trust account in which all money collected under this article by the collection agency shall be deposited within 3 banking days after receipt. The trust account shall be established in […]
339.910 Books, accounts, and records; use; preservation; accessibility; annual report; financial report of trust account; audit; information provided to director exempt from disclosure; exception; compliance attestation report. Sec. 910. (1) A collection agency shall keep and use books, accounts, or records that the department requires to determine whether the collection agency is complying with this […]
339.911 Collection agency manager’s license or collection agency license; requirements. Sec. 911. The department shall issue a collection agency manager’s license or a collection agency license to an individual who meets all of the following requirements: (a) Has a high school diploma or demonstrates to the satisfaction of the department that the applicant possesses the […]
339.912 Applicant for collection agency manager’s license; written examination. Sec. 912. An applicant for a collection agency manager’s license shall take a written examination developed by the department to test the applicant’s knowledge of the collection agency business, collection practices, customs and ethics, and the laws and rules relating to the operations of collection agencies. […]
339.913 Collection agency manager’s license; display. Sec. 913. A collection agency manager’s license shall be displayed on the premises where licensed business or activity is conducted. History: 1980, Act 299, Imd. Eff. Oct. 21, 1980 ;– Am. 1988, Act 463, Eff. Sept. 1, 1989 Popular Name: Act 299
339.914 Repealed. 1996, Act 151, Imd. Eff. Mar. 25, 1996. Compiler’s Notes: The repealed section pertained to proof of applicant meeting qualification requirements.Popular Name: Act 299
339.915 Licensee; prohibited acts. Sec. 915. A licensee shall not commit 1 or more of the following acts: (a) Communicating with a debtor in a misleading or deceptive manner, such as using the stationery of an attorney or the stationery of a credit bureau unless it is disclosed that it is the collection department of […]
339.915a Licensee; additional prohibited acts; section construed; “affiliate” defined. Sec. 915a. (1) A licensee shall not commit any of the following acts: (a) Listing the name of an attorney in a written or oral communication, collection letter, or publication in an attempt to collect a debt on behalf of a person other than the licensee […]
339.916 Action for damages or other equitable relief; recovery; civil penalty; attorney’s fees and court costs. Sec. 916. (1) A person who suffers injury, loss, or damage, or from whom money was collected by the use of a method, act, or practice in violation of this article or rules promulgated under this article, may bring […]
339.917 Conduct of licensee subject to penalties. Sec. 917. A licensee that commits 1 or more of the following is subject to the penalties described in article 6: (a) Cancellation of a surety bond. (b) Failure to notify the director of any changes in corporate or partnership structure under section 906. (c) Failure to apply […]
339.918 Communication with consumer; notice; effect of disputing validity of debt; verification of debt; failure to dispute validity of debt. Sec. 918. (1) Within 5 days after the initial communication with a consumer in connection with a collection of a debt, a collection agency shall send the consumer, unless the following information is contained in […]
339.919 Communication with person other than debtor; location information. Sec. 919. (1) A collection agency communicating with any person other than the debtor, for the purpose of acquiring location information about the debtor, shall state all of the following: (a) The name of the individual seeking the location information. (b) Whether the purpose of the […]
