Rule 493.112

Mich. Admin. Code R. 493.112

Records; errors.

(By authority conferred on the commissioner of the financial institutions bureau by sections 19, 23, and 28 of Act No. 125 of the Public Acts of 1981, being SS493.69, 493.73, and 493.78 of the Michigan Compiled Laws)Financial Institutions

A licensee or registrant shall maintain a list of all loan records maintained under R 493.111 in which errors were made. A licensee or registrant shall provide, if requested for examination purposes, the date, nature, and amount of an error and its correcting entry.

History: 1982 AACS; 1998-2000 AACS.