HOUSE BILL No. 6059


     September 16, 1998, Introduced by Rep. Alley and referred to the Committee on Commerce.


        A bill to amend 1984 PA 379, entitled

   "An act to define and regulate certain credit card transactions,
   agreements, charges, and disclosures; to prescribe the powers and
   duties of the financial institutions bureau and certain state
   agencies; to provide for the promulgation of rules; and to pro-
   vide for fines and penalties,"

   (MCL 493.101 to 493.114) by amending the title and by adding sec-

   tion 2a.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 1                                  TITLE

 2         An act to define and regulate certain credit card AND OTHER

 3    CREDIT transactions, agreements, charges, and disclosures; to

 4    prescribe the powers and duties of the financial institutions

 5    bureau and certain state agencies; to provide for the promulga-

 6    tion of rules; and to provide for fines and penalties.

 7         SEC. 2A.  A LICENSEE SHALL NOT PROVIDE AN INDIVIDUAL WITH

 8    EITHER OF THE FOLLOWING:


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 1         (A) AN UNSOLICITED BLANK CHECK THAT WOULD ENABLE THE

 2    INDIVIDUAL TO INCUR A NEW OR ADDED DEBT BURDEN SOLELY BY IDENTI-

 3    FYING A PAYEE AND ENDORSING THE CHECK.

 4         (B) AN UNSOLICITED CHECK IN A FIXED AMOUNT THAT WOULD ENABLE

 5    THE INDIVIDUAL TO INCUR A NEW OR ADDED DEBT SOLELY BY ENDORSING

 6    THE CHECK.












































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