Bill Text: MI HB5863 | 2011-2012 | 96th Legislature | Engrossed
Bill Title: Financial institutions; savings and loan associations; motor vehicle sales finance statute; revise citation to savings and loan act. Amends sec. 36 of 1950 (Ex Sess) PA 27 (MCL 492.136). TIE BAR WITH: HB 5835'12
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2012-12-31 - Assigned Pa 452'12 With Immediate Effect 2012 Addenda [HB5863 Detail]
Download: Michigan-2011-HB5863-Engrossed.html
HB-5863, As Passed House, September 27, 2012
HOUSE BILL No. 5863
(As amended September 27, 2012)
September 11, 2012, Introduced by Rep. Franz and referred to the Committee on Banking and Financial Services.
A bill to amend 1950 (Ex Sess) PA 27, entitled
"Motor vehicle sales finance act,"
by amending section 36 (MCL 492.136), as amended by 2003 PA 221.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 36. This act shall not affect or impair a business
conducted lawfully under the regulatory loan act, 1939 PA 21, MCL
493.1 to 493.24, the banking code of 1999, 1999 PA 276, MCL
487.11101 to 487.15105, the savings and loan act of 1980, former
1980
PA 307, MCL 491.102 to 491.1202, or the credit union act, 2003
PA 215, MCL 490.101 to 490.601.
Enacting section 1. This amendatory act takes effect December
31, 2012.
[Enacting section 2. This amendatory act does not take effect
unless House Bill No. 5835 of the 96th Legislature is enacted into law.
House Bill No. 5863 as amended September 27, 2012
]
