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Terms Used In Michigan Laws 493.15

  • Contract: A legal written agreement that becomes binding when signed.
  • Licensee: means a person licensed or required to be licensed under this act. See Michigan Laws 493.1
     A licensee may purchase a contract made in compliance with the retail installment sales act, 1966 PA 224, MCL 445.851 to 445.873, or the home improvement finance act, 1965 PA 332, MCL 445.1101 to 445.1431.