Michigan Laws 445.1860 – Written complaint alleging violation of act; duty of commissioner
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Upon receipt of a written complaint alleging a violation of this act by a regulated lender, the commissioner shall do 1 of the following:
(a) Investigate the complaint if the regulated lender is chartered, licensed, or regulated by the commissioner.
Terms Used In Michigan Laws 445.1860
- Commissioner: means the commissioner of the financial institutions bureau of the department of consumer and industry services. See Michigan Laws 445.1852
- Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Regulated lender: means a depository institution, a licensee under the consumer financial services act, Act No. See Michigan Laws 445.1852
(b) If the regulated lender is not subject to the jurisdiction of the commissioner, forward the complaint to the appropriate regulatory or investigatory authority.