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Bill > HB5365
MI HB5365
Consumer protection: other; citations to the motor vehicle sales finance act in the guaranteed asset protection waiver act; revise. Amends sec. 3 of 2009 PA 229 (MCL 492.23). TIE BAR WITH: HB 5354'23
summary
Introduced
11/14/2023
11/14/2023
In Committee
05/23/2024
05/23/2024
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
102nd Legislature
Bill Summary
A bill to amend 2009 PA 229, entitled"Guaranteed asset protection waiver act,"by amending section 3 (MCL 492.23).
AI Summary
This bill amends the Guaranteed Asset Protection Waiver Act by revising the definitions of certain key terms, such as "Borrower," "Commissioner," "Creditor," and "Motor Vehicle." It also removes references to the Motor Vehicle Sales Finance Act and the Retail Installment Sales Act, which are no longer directly referenced in the amended language. The bill also includes an enacting section that ties its implementation to the passage of a related bill, House Bill No. 5354.
Committee Categories
Business and Industry, Justice
Sponsors (2)
Last Action
Placed On Third Reading (on 12/13/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | http://legislature.mi.gov/doc.aspx?2023-HB-5365 |
| Fiscal Note/Analysis - House: Summary as Reported from Committee | https://legislature.mi.gov/documents/2023-2024/billanalysis/House/pdf/2023-HLA-5354-19673AFB.pdf |
| Fiscal Note/Analysis - House: Summary as Introduced | https://legislature.mi.gov/documents/2023-2024/billanalysis/House/pdf/2023-HLA-5354-C5F0835A.pdf |
| BillText | http://www.legislature.mi.gov/documents/2023-2024/billintroduced/House/htm/2023-HIB-5365.htm |
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