HB-5888, As Passed House, June 23, 2004
SUBSTITUTE FOR
HOUSE BILL NO. 5888
A bill to amend 1950 (Ex Sess) PA 27, entitled
"Motor vehicle sales finance act,"
by amending section 4 (MCL 492.104) and by adding section 6a.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 4. (1) (a)
Applications for licenses A person shall
2 file an application for a new or renewal license under this act
3 shall be in writing, under oath, and in the form prescribed by
4 the administrator.
5 (2) (b)
The A complete license application shall contain
6 the all of the following:
7 (a) The name under
which the business is conducted. ; the
8 (b) The address of the principal place of business and of
9 each other place of
business, if more than 1. ; the
10 (c) One of the following:
11 (i) The date
and place of incorporation , and the name and
1 address of all officers and directors if the applicant is a
2 corporation. ;
the
3 (ii) The name
and residence address of the owner , if the
4 applicant is an individual owner or operating under an assumed
5 name. ; the
6 (iii) The name and residence address of all owners, partners,
7 or members , if
the applicant is a partnership, or
8 association, ;
the name and address of all officers and
9 directors, if the
applicant is a corporation; and such or
10 limited liability company.
11 (d) An appointment under subsection (3), if applicable.
12 (e) The bond required under section 5, if applicable.
13 (f) The license fee or fees required under section 5.
14 (g) Any other
information as the administrator may
15 require requires.
16 (c) All
applications filed by associations or corporations
17 shall be accompanied
by a power of attorney showing the name and
18 address of the
authorized agent in the state of Michigan upon
19 whom all judicial and
other process or legal notice may be
20 served, and in the
case of the death, removal from the state or
21 any legal disability
or disqualification of such agent, service
22 of such process or
notice upon the administrator shall be
23 authorized.
24 (3) If a license applicant does not maintain an office in
25 this state and does not have a resident agent in this state, the
26 application shall include a written appointment of a statutory
27 agent upon whom process, notice, or demand may be served. The
1 statutory agent shall be an individual residing in this state or
2 a corporation whose principal place of business is located in
3 this state. If the identity or address of the statutory agent
4 changes while the application is pending or after a license is
5 issued, the applicant or licensee shall within 3 days file with
6 the department a written appointment of the new statutory agent
7 or written notice of the new address, as applicable.
8 (4) (d) A
new or renewal license applicant shall submit a
9 separate application, on
the prescribed form, shall be filed
10 for each place of business conducted by or to be established by
11 a the licensee within the this
state. of Michigan.
12 (5) (e)
All applications An applicant for a renewal license
13 shall submit the application
for renewal of existing licenses
14 shall be filed at
least 15 days prior to July first annually the
15 license on or before the June 16 preceding the renewal period.
16 Sec. 6a. (1) Subject to subsection (3), beginning on the
17 effective date of the amendatory act that added this section, the
18 administrator shall approve or reject a new or renewal license
19 application within 90 days after receiving the complete
20 application under section 4.
21 (2) If an application described in subsection (1) is
22 considered incomplete by the administrator, the administrator
23 shall notify the applicant in writing or electronically within 30
24 days after receipt of the incomplete application, describing the
25 deficiency and requesting the additional information, the unpaid
26 fee, or the bond. The 90-day time period described in subsection
27 (1) is tolled upon notification by the administrator of a
1 deficiency until the date the requested information is received
2 by the administrator. The determination of the completeness of
3 an application does not operate as an approval of the application
4 for the license and does not confer eligibility of an applicant
5 determined otherwise ineligible for issuance of a license. The
6 tolling of the 90-day time period under this subsection does not
7 allow the administrator to otherwise delay the processing of the
8 application, and that application, upon completion, shall be
9 placed in sequence with other complete applications received at
10 that same time.
11 (3) If the administrator fails to issue or deny a license
12 within the time required by this section, the administrator shall
13 return the license fee and shall reduce the license fee for the
14 applicant's next renewal application, if any, by 15%. The
15 administrator shall not discriminate against an applicant in the
16 processing of the application based upon the fact that the
17 license fee was refunded or discounted under this subsection.
18 (4) Beginning October 1, 2005, the administrator shall submit
19 a report by December 1 of each year to the standing committees of
20 the senate and house of representatives concerned with commerce
21 issues and to the appropriations subcommittees of the senate and
22 house of representatives generally responsible for appropriations
23 to the office of financial and insurance services. The
24 administrator shall include all of the following information in
25 the report concerning the preceding fiscal year:
26 (a) The number of initial and renewal applications the
27 administrator received and completed within the 90-day time
1 period described in subsection (1).
2 (b) The number of applications denied.
3 (c) The number of applicants not issued a license within the
4 90-day time period and the amount of money returned to licensees
5 and registrants under subsection (3).