(1) A person who steals knowingly takes, or knowingly removes a financial transaction device from the person or possession of a deviceholder, or who knowingly retains, knowingly possesses, knowingly secretes, or knowingly uses a financial transaction device without the consent of the deviceholder, is guilty of a felony.
  (2) A person who knowingly possesses a fraudulent or altered financial transaction device is guilty of a felony.

Terms Used In Michigan Laws 750.157n

  • Deviceholder: means either of the following:
  (i) The person or organization who requests a financial transaction device and to whom or for whose benefit a financial transaction device is subsequently issued. See Michigan Laws 750.157m
  • Felony: A crime carrying a penalty of more than a year in prison.
  • felony: when used in this act, shall be construed to mean an offense for which the offender, on conviction may be punished by death, or by imprisonment in state prison. See Michigan Laws 750.7
  • Financial transaction device: means any of the following:
  •   (i) An electronic funds transfer card. See Michigan Laws 750.157m