2012 House Bill 5892 / Public Act 584

Revise “rent to own” contract regulation details

Introduced in the House

Sept. 12, 2012

Introduced by Rep. Wayne Schmidt (R-104)

To revise details of the procedures and late fees merchants are allowed to charge on “rent to own” merchandise contracts.

Referred to the Committee on Commerce

Sept. 27, 2012

Reported without amendment

Without amendment and with the recommendation that the bill pass.

Nov. 28, 2012

Passed in the House 106 to 3 (details)

Received in the Senate

Nov. 29, 2012

Referred to the Committee on Regulatory Reform

Dec. 13, 2012

Passed in the Senate 38 to 0 (details)

To revise details of the procedures and late fees merchants are allowed to charge on “rent to own” merchandise contracts.

Signed by Gov. Rick Snyder

Dec. 27, 2012