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Form a Business

Statement of payments; furnished by holder, fee.

MCL 445.1402
in effect
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445.1402. Statement of payments; furnished by holder, fee. Sec. 402. At any time after its execution, but not later than 1 year after the last payment thereunder, the holder of a home improvement installment contract, upon written request of the buyer, shall give or forward to the buyer a written statement of the dates and amounts of payments and the total amount, if any, unpaid thereunder. The statement shall be supplied by the holder once each year without charge; if any additional statement is requested by the buyer, the holder shall supply each statement to the buyer at a charge not exceeding $1.00 for each additional statement supplied to the buyer. A buyer shall be given a receipt for any payment when made in cash. 1965, Act 332, Eff. Jan. 1, 1966
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-445-1402Fetched: 10/20/2026

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