MI HB4891

Amends the Debt Management Act to update and clarify language regarding license application investigations by the Department for debt management businesses

Adds a detailed definition of "collection agency" directly into the Debt Management Act, specifying entities that collect debts owed to others, including those who repossess property or use collection forms and techniques

Lists numerous exemptions from the collection agency definition, including regular employees collecting for one employer, banks, credit unions, savings and loan associations, licensed real estate brokers, attorneys, and public officers acting under court orders

Prohibits debt management license applicants who are employees, owners, or affiliates of collection agencies or process serving businesses, unless the director waives the restriction based on sufficient operational safeguards

Makes minor technical language updates throughout, replacing gendered pronouns with gender-neutral terms and modernizing phrasing

Conditioned on enactment of House Bill No. 4887 of the 103rd Legislature (tie bar provision)