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MI HB4099

Bill

Official Source

Status

Introduced

1/26/2017

Primary Sponsor

Michael McCready

Click for details

Origin

House of Representatives

99th Legislature

AI Summary

  • Requires buyers in installment sale contracts with weekly payment terms to maintain insurance on the motor vehicle at their own expense under existing section 16 requirements

  • Mandates buyers provide the seller with current certificate of insurance or other satisfactory proof of coverage at least monthly

  • Permits vehicle repossession if the buyer fails to comply with the insurance provision requirements

  • Takes effect 90 days after enactment into law

Legislative Description

Trade; vehicles; certain installment sale vehicle buyers; require monthly proof of insurance to seller. Amends 1950 (Ex Sess) PA 27 (MCL 492.101 - 492.141) by adding sec. 16b.

Trade: vehicles

Last Action

Bill Electronically Reproduced 01/26/2017

1/31/2017

Committee Referrals

Insurance1/26/2017

Full Bill Text

No bill text available