Michigan Laws 487.2139 – Expiration and renewal of license
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Terms Used In Michigan Laws 487.2139
- Applicant: means a person that is seeking a license to engage in the business of providing deferred presentment service transactions under this act. See Michigan Laws 487.2122
- Commissioner: means the director or his or her authorized representative. See Michigan Laws 487.2122
- Licensee: 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
(1) A license issued under this article shall expire on September 30 of each year unless earlier suspended, surrendered, or revoked under this act. A licensee may renew a license for a 12-month period by submitting a complete application that shows continued compliance with this act, in a form prescribed by the commissioner, and paying the license renewal fee to the commissioner. The licensee shall submit a renewal application under this subsection on or before August 1 and the commissioner shall proceed in the manner described in sections 15(1) and 16.
(2) Before October 1, 2006, the commissioner may issue a license to an applicant under this article that is for a period longer than 12 months and that expires on September 30, 2007.