MCL - Section 445.957

RENTAL-PURCHASE AGREEMENT ACT (EXCERPT)
Act 424 of 1984


445.957 Prohibited requirements.

Sec. 7.

    A lessor shall not require any of the following:
    (a) The purchase of insurance by the lessee from the lessor of a leased item.
    (b) A payment that is in excess or in addition to a normal periodic payment and that is required in order to purchase a leased item at the conclusion of the periodic payments necessary to acquire ownership.
    (c) A penalty for early termination of a rental-purchase agreement or for the return of an item at any point.
    (d) A processing fee of any sort.
    (e) A fee for in-home collection of a payment unless the lessee has expressly agreed to the fee and the amount of the fee is disclosed.
    (f) A periodic payment or late fee for a rental period beginning after the lessee has returned or surrendered the leased property to the lessor or the lessor's agent.
    (g) Any charge or fee for reinstatement of the rental-purchase agreement in addition to or in excess of those expressly permitted in section 8.


History: 1984, Act 424, Eff. Mar. 29, 1985 ;-- Am. 2012, Act 584, Imd. Eff. Jan. 3, 2013