MI SB0753

Updates citations in Michigan's penal code related to loan application fraud and credit device fraud to reflect current statutory references, changing motor vehicle sales finance act citations from MCL 492.141 to MCL 492.137a

Makes technical corrections throughout, replacing "who" with "that" when referring to persons/entities and changing "credit reporting bureau" to "credit reporting agency"

Updates list of federal regulatory agencies to remove the Office of Thrift Management (which no longer exists) and retain only the Office of the Comptroller of the Currency, Federal Deposit Insurance Corporation, and Federal Reserve

Maintains existing felony penalties: up to 4 years imprisonment and/or $2,500 fine for unauthorized loan applications in another's name (Section 219e), and up to 4 years imprisonment and/or $100,000 fine for knowingly forwarding fraudulent loan applications (Section 219f)

Contingent enactment: takes effect only if Senate Bill No. 739 of the 103rd Legislature is enacted into law