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Installment seller of motor vehicles; sales finance company; license required.

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MI Code › Chapter 492 › Act Act-27-of-1950-Ex-Sess- › Section 492.103

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

Text

Sec. 3.

Except for a person licensed under the consumer financial services act, a person shall not engage in this state as a principal, employee, agent, or broker in either of the following unless that person is licensed as provided in this act:

The business of an installment seller of motor vehicles under installment sale contracts.

The business of a sales finance company.

History: 1950, Ex. Sess., Act 27, Eff. Mar. 31, 1951; Am. 1988, Act 163, Eff. Sept. 1, 1988

This is a copy of a public record, reproduced as it was published. It is not legal advice, and it may not be the version a court would rely on. Check the official source before you cite it.

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