Michigan Statutes

§ 493.20 — Businesses exempt from act.

Michigan § 493.20

JurisdictionMichigan

Ch. 493REGULATORY LOANS

Act 21 of 1939REGULATORY LOAN ACT (493.1-493.26)

This text of Michigan § 493.20 (Businesses exempt from act.) 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 § 493.20 (2026).

Text

REGULATORY LOAN ACT (EXCERPT) Act 21 of 1939 493.20 Businesses exempt from act. Sec.

20.This act shall not apply to any person doing business under and as permitted by any law of this state or of the United States relating to banks, savings banks, industrial banks, trust companies, building and loan associations, or credit unions, nor to any business transacted under any pawnbroker's license.

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Legislative History

1939, Act 21, Eff. Sept. 29, 1939 ;-- CL 1948, 493.20 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and 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.

Nearby Sections

15

§ 493.1

Short title; definitions.

§ 493.10

Commissioner of state banking department; authority to investigate business and examine records; witnesses; examination of licensee; construction of section; disposition of fees.

§ 493.101

§ 493.102

Credit card arrangement; license required; terms and conditions.

§ 493.103

Application for license; oath; form; contents; fees; net worth requirements; rules.

§ 493.104

Investigation; finding; issuance of license; refusal to issue license; expiration of license.

§ 493.105

Duties of commissioner upon refusal to issue license.

§ 493.106

Suspension, revocation, or refusal to renew license; notice; grounds; surrender of license; duration of license; reinstatement or issuance of new license; preexisting lawful contracts.

§ 493.107

Investigations and examination of books, accounts, records, and files; electronic data processing not prohibited; establishment of annual fee schedule; fees nonrefundable; penalty; disposition and use of fees and expenses; action for recovery of fees or expenses.

§ 493.108

Subpoena of witnesses and evidence; oaths and affirmations; noncompliance; order; contempt.

§ 493.109

Books, accounts, and records; maintenance, preservation, and availability; audit; cost.

§ 493.11

Books, accounts, and records of licensee; preservation and accessibility; filing financial statement with commissioner; reports.

§ 493.110

Maximum interest; computation; fee; offer of loan or credit in connection with other accounts, services, or similar agreements; prohibited conditions.

§ 493.111

Truth in lending act; disclosures, information, and notices; applicability.

§ 493.112

Wilful and intentional violation as misdemeanor; conduct barring recovery and entitling consumer to attorney fees and court costs; authorized actions.

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Bluebook (online)

Michigan § 493.20, Counsel Stack Legal Research, https://law.counselstack.com/statute/mi/493/493.20.