Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the occupational code. Amends secs. 2501, 2503 & 2603 of 1980 PA 299 (MCL 339.2501 et seq.). TIE BAR WITH: HB 6177'26

Also relevant to:Homeowner

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Plain-English Summary

This bill amends Michigan's Occupational Code, specifically sections related to real estate professionals. It updates definitions for terms like "associate broker," "distance learning," and "independent contractor relationship," and clarifies what activities are not covered by the real estate article. The bill also modifies the composition of the board of real estate appraisers, including where some appraisers may be employed.

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Votes

Sponsorship · 4 Sponsors

Democrat0Republican4Independent0Other0

R · PrimeGregory Alexander
R · CoMark Tisdel
R · CoTom Kuhn
R · CoSteve Frisbie

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