Michigan Sales Finance License Application, Procedures and Fe

• Category: Michigan Secretary of State - Blue Sky - Securities - Debt Management
• State: Michigan
• Control #: MI-FIS-2311
• Format: PDF

Description

Sales Finance License Application, Procedures and Fe The Michigan Sales Finance License Application, Procedures and Fees is a licensing system for businesses that wish to engage in consumer sales finance activities within the State of Michigan. The license is issued by the Department of Insurance and Financial Services (DIES) to ensure compliance with Michigan’s Sales Finance Act and associated regulations. This license is required for any company or individual who wishes to engage in consumer sales finance activities, such as making consumer loans, acting as a consumer loan broker, providing consumer loan collection services, or providing consumer loan origination services. The license application process involves submitting a completed application with the appropriate fee, along with any other required documents. The application must include information such as the applicant’s name, address, business history, financial information, and criminal background check. Once the application is submitted, DIES will review the application and may contact the applicant for additional information. After the review is complete, DIES will make a determination whether the applicant is eligible for the license. The types of Michigan Sales Finance License Application, Procedures and Fees are as follows: 1. New License Application: This is for applicants who have never held a Michigan Sales Finance License before. 2. License Renewal Application: This is for applicants who have previously held a Michigan Sales Finance License and wish to renew it. 3. Transfer of Ownership/Entity Change Application: This is for applicants who are transferring ownership or changing the entity type of Michigan Sales Finance License. 4. Fee Schedule: This outlines the fees associated with each type of Michigan Sales Finance License Application.

The Michigan Sales Finance License Application, Procedures and Fees is a licensing system for businesses that wish to engage in consumer sales finance activities within the State of Michigan. The license is issued by the Department of Insurance and Financial Services (DIES) to ensure compliance with Michigan’s Sales Finance Act and associated regulations. This license is required for any company or individual who wishes to engage in consumer sales finance activities, such as making consumer loans, acting as a consumer loan broker, providing consumer loan collection services, or providing consumer loan origination services. The license application process involves submitting a completed application with the appropriate fee, along with any other required documents. The application must include information such as the applicant’s name, address, business history, financial information, and criminal background check. Once the application is submitted, DIES will review the application and may contact the applicant for additional information. After the review is complete, DIES will make a determination whether the applicant is eligible for the license. The types of Michigan Sales Finance License Application, Procedures and Fees are as follows: 1. New License Application: This is for applicants who have never held a Michigan Sales Finance License before. 2. License Renewal Application: This is for applicants who have previously held a Michigan Sales Finance License and wish to renew it. 3. Transfer of Ownership/Entity Change Application: This is for applicants who are transferring ownership or changing the entity type of Michigan Sales Finance License. 4. Fee Schedule: This outlines the fees associated with each type of Michigan Sales Finance License Application.