Michigan § 445.859 Installment contract or retail charge agreement; delinquency and collection charge.

Michigan Statutes

§ 445.859 — Installment contract or retail charge agreement; delinquency and collection charge.

Michigan § 445.859

Ch. 445TRADE AND COMMERCE

Act 224 of 1966RETAIL INSTALLMENT SALES ACT (445.851-445.873)

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Bluebook

Mich. Comp. Laws § 445.859 (2026).

Text

RETAIL INSTALLMENT SALES ACT (EXCERPT) Act 224 of 1966 445.859 Installment contract or retail charge agreement; delinquency and collection charge. Sec.

9.The holder of an installment contract or retail charge agreement, or retail charge agreement including a contract subject to section 23, if it so provides, may collect a delinquency and collection charge on each installment in default for a period of more than 10 days. A delinquency and collection charge is not a liquidated damage.

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RETAIL INSTALLMENT SALES ACT (EXCERPT) Act 224 of 1966 445.859 Installment contract or retail charge agreement; delinquency and collection charge. Sec. 9. The holder of an installment contract or retail charge agreement, or retail charge agreement including a contract subject to section 23, if it so provides, may collect a delinquency and collection charge on each installment in default for a period of more than 10 days. A delinquency and collection charge is not a liquidated damage.