Michigan § 445.1607 Retention of records and documents.

Michigan Statutes

§ 445.1607 — Retention of records and documents.

Michigan § 445.1607

Ch. 445TRADE AND COMMERCE

Act 135 of 1977MORTGAGE LENDING PRACTICES (445.1601-445.1614)

This text of Michigan § 445.1607 (Retention of records and documents.) is published on Counsel Stack Legal Research, covering Michigan primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Mich. Comp. Laws § 445.1607 (2026).

Text

MORTGAGE LENDING PRACTICES (EXCERPT) Act 135 of 1977 445.1607 Retention of records and documents. Sec.

7.A credit granting institution shall retain, for a period of 25 months after a loan application has been submitted or until the loan is repaid, whichever is earlier, a complete record of each loan application which has been accepted, rejected, or varied and the reason for the application's rejection or variation, together with any other documents relating to the application. Records and documents retained under this section shall be maintained in a reasonable manner to enable the commissioner or the commissioner's representatives to locate information pertinent to a given complaint.

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MORTGAGE LENDING PRACTICES (EXCERPT) Act 135 of 1977 445.1607 Retention of records and documents. Sec. 7. A credit granting institution shall retain, for a period of 25 months after a loan application has been submitted or until the loan is repaid, whichever is earlier, a complete record of each loan application which has been accepted, rejected, or varied and the reason for the application's rejection or variation, together with any other documents relating to the application. Records and documents retained under this section shall be maintained in a reasonable manner to enable the commissioner or the commissioner's representatives to locate information pertinent to a given complaint.