Section 451.418 - License renewal; application; fee; financial statements.
DEBT MANAGEMENT ACT (EXCERPT)
Act 148 of 1975
451.418 License renewal; application; fee; financial statements.
Sec. 8.
Before December 1 of each year, a licensee shall file an application with the department for renewal of its license. The application shall be on the form prescribed by the department and shall be accompanied by a fee of $50.00 for each office together with a surety bond in the same manner as an original application. The application shall cover each branch office that is under the ownership and control of the applying entity. Financial statements shall be filed with the application for renewal of a license. The director may require that the financial statements be audited or reviewed by an independent certified public accountant.
History: 1975, Act 148, Eff. Mar. 31, 1976 ;-- Am. 2000, Act 255, Imd. Eff. June 29, 2000
Compiler's Notes: For transfer of statutory authority, powers, duties, and functions of the corporations, securities and land development bureau to the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.