No provision of a retail installment contract, retail charge agreement, or lender credit card agreement is valid by which the buyer agrees not to assert against the seller or against an assignee a claim or defense arising out of the sale, or by which the buyer agrees to submit to suit in a county other than the county where the buyer signed the contract or where the buyer resides or has his or her principal place of business.

[ 2012 c 117 s 172; 1984 c 280 s 7; 1967 c 234 s 9; 1963 c 236 s 15.]