Michigan Laws 487.2141 – Books, accounts, and records; preservation
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Terms Used In Michigan Laws 487.2141
- 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
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
Each licensee shall keep and use in its business any books, accounts, and records the commissioner requires under this act. A licensee shall preserve the books, accounts, and records for at least 3 years, unless applicable state or federal law concerning record retention requires a longer retention period.