MI HB5362

Replaces references to "Commissioner of the Financial Institutions Bureau" with "Director of the Department of Insurance and Financial Services" in the Credit Reform Act definition section.

Updates statutory citations for the Motor Vehicle Sales Finance Act from "Act No. 27 of the Public Acts of the Extra Session of 1950, sections 492.101 to 492.141" to "1950 (Ex Sess) PA 27, MCL 492.101 to 492.137a."

Restructures the definition of "regulated lender" to use a numbered list format while maintaining the same entities covered: depository institutions, licensees under various financing acts, and sellers under the home improvement finance act.

Modernizes statutory citation format throughout for the Home Improvement Finance Act, Consumer Financial Services Act, Motor Vehicle Sales Finance Act, Secondary Mortgage Loan Act, and Regulatory Loan Act to use current MCL referencing style.

Bill is contingent on enactment of Senate Bill No. ____ or House Bill No. 5354 of the 102nd Legislature.