Michigan Laws 339.908 – “Owner manager” defined; personal supervision of collection agency by licensed collection agency manager or owner manager; notice; limitation
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(1) As used in this section, “owner manager” means a person who does all of the following:
(a) Obtains a license under section 904 as an individual, a partner in a partnership, or an officer of a corporation.
Terms Used In Michigan Laws 339.908
- Collection agency: means a person that is directly engaged in collecting or attempting to collect a claim owed or due or asserted to be owed or due another, or, subject to subsection (2), repossessing or attempting to repossess a thing of value owed or due or asserted to be owed or due another arising out of an expressed or implied agreement. See Michigan Laws 339.901
- Collection agency manager: means the individual responsible for the operation of a collection agency. See Michigan Laws 339.901
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- in writing: shall be construed to include printing, engraving, and lithographing; except that if the written signature of a person is required by law, the signature shall be the proper handwriting of the person or, if the person is unable to write, the person's proper mark, which may be, unless otherwise expressly prohibited by law, a clear and classifiable fingerprint of the person made with ink or another substance. See Michigan Laws 8.3q
- Office: means a regular place of business where complete records are kept of collections and claims handled by a licensee. See Michigan Laws 339.901
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
(b) Meets all the requirements specified in section 911(2).
(c) Personally supervises an office of the collection agency for which he or she obtains a license under section 904.
(2) A collection agency shall not engage in the collection agency business unless each collection agency office is under the personal supervision of a licensed collection agency manager or an owner manager. An owner manager shall not be required to be licensed as a collection agency manager. An out of state collection agency which initiates collection activity from within this state shall be required to be under the personal supervision of a licensed collection agency manager or owner manager.
(3) A collection agency shall notify the department in writing of the person responsible for the operation of each office. The notification shall be made not more than 30 days after the person assumes the responsibility.
(4) A person shall not personally supervise more than 1 office.