Michigan Laws 445.1611 – Injunction; damages; commissioner as party plaintiff; class actions prohibited
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(1) A person may commence an action in the circuit court to seek an injunction for a violation or to seek damages for a violation of this act, or both. The commissioner may join as a party plaintiff in an action. A person shall not be entitled to damages under this act unless that person has made a written loan application which has been denied or the terms of which have been varied by the credit granting institution against whom the action is filed. Class actions shall not be permitted under this act.
(2) A person injured by a credit granting institution in violation of this act shall be entitled to those damages as the court determines appropriate, but not to exceed $2,000.00 or actual damages plus reasonable attorney’s fees, whichever is greater, for each violation of this act.
Terms Used In Michigan Laws 445.1611
- Commissioner: means the commissioner of the office of financial and insurance regulation of the department of licensing and regulatory affairs. See Michigan Laws 445.1601
- Credit granting institution: means a state or nationally chartered bank, a state or federally chartered savings and loan association, a state or federally chartered credit union, the Michigan state housing development authority, or a business entity making or purchasing mortgage loans, that has a main office, branch office, or service center in the state of Michigan at which it conducts that business. See Michigan Laws 445.1601
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
- Loan application: means a written application for a mortgage loan or home improvement loan. See Michigan Laws 445.1601
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
- Plaintiff: The person who files the complaint in a civil lawsuit.