A bill to amend 1917 PA 273, entitled “An act to regulate and license pawnbrokers that conduct business in this state; to provide for the disposition of allegedly misappropriated property in the possession of pawnbrokers; to provide remedies and prescribe penalties; and to provide for the powers and duties of certain local governmental units and state agencies,” by amending sections 8 and 9 (MCL 446.208 and 446.209), section 8 as amended by 2002 PA 469 and section 9 as amended by 2018 PA 345.
House Bills 4115 and 4116 change existing pawnbroker regulations to introduce civil penalties, increase fines for violations, and establish a new fine for excessive interest rates.
Co-sponsored by Reps.
Referred to the Committee on Regulatory Reform
Reported without amendment
Passed in the House 83 to 21 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
Referred to the Committee on Finance, Insurance, and Consumer Protection
