Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in 1995 PA 280. Amends sec. 1 of 1995 PA 280 (MCL 129.221). TIE BAR WITH: HB 6177'26

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Plain-English Summary

This bill amends an existing act that allows local governments to accept payments made with financial transaction devices. It updates the definitions of "credit card" and "financial transaction device" to include specific types of licensed financial institutions and expands the list of "local units" and "governing bodies" that can accept these payments. The bill will only take effect if House Bill No. 6177 also becomes law.

No official summary on file for this bill · generated by Gemini 2.5 Flash from its full text

Votes

Sponsorship · 2 Sponsors

Democrat0Republican2Independent0Other0

R · PrimeParker Fairbairn
R · CoMark Tisdel

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