MI HB5273

Declares void and unenforceable any contract entered into on or after January 1, 2020 that transfers ownership of a companion animal contingent on installment payments made after possession is transferred.

Voids contracts that transfer ownership of a companion animal at the end of a lease term.

Voids contracts that involve repaying a loan for a companion animal purchase where a security interest is granted in the animal.

Makes it unlawful to offer, broker, service, assign, or receive assignment of any such void contracts.

Grants consumers who take possession of a companion animal under a prohibited contract full ownership of the animal and entitlement to refund of all amounts paid under the contract.