MI HB5363

Replaces references to "office of financial and insurance services" with "department of insurance and financial services" throughout the Consumer Financial Services Act.

Removes the "Sale of Checks Act" (1960 PA 136) from the definition of financial licensing acts and from Class II license exclusions.

Updates citations to the Motor Vehicle Sales Finance Act from "MCL 492.101 to 492.141" to "MCL 492.101 to 492.137a" in multiple sections.

Clarifies language in surety bond and letter of credit provisions by replacing "shall" with "must" and updating grammatical references.

Makes technical corrections to references in the Money Transmission Services Act and removes check-purchase protections from bond claim provisions.

Enactment condition: Bill takes effect only if Senate Bill No. ____ or House Bill No. 5354 is enacted into law.