Michigan Laws 487.2173 – Civil cause of action; damages
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Terms Used In Michigan Laws 487.2173
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- deferred presentment service transaction: means a transaction between a licensee and a customer under which the licensee agrees to do all of the following:
(i) Pay to the customer an agreed-upon amount in exchange for a fee. See Michigan Laws 487.2122Licensee: means a person that is licensed to engage in the business of providing deferred presentment service transactions under this act. See Michigan Laws 487.2122 Person: means an individual, partnership, association, corporation, limited liability company, or other legal entity except a governmental entity. See Michigan Laws 487.2122
A person injured by a licensee‘s violation of this act may maintain a civil cause of action against the licensee and may recover actual damages and an amount equal to the service fee paid in connection with each deferred presentment service transaction that is found to violate this act, plus reasonable attorney fees.