Mich. Admin. Code R. 125.1407 - Retailer termination
Rule 407.
(1)
Immediately upon determining to terminate, a retailer shall do all of the
following:
(a) By certified mail, notify the
department of its proposed termination:
(b) By certified mail, notify each purchaser
of a new or pre-owned home who within 1 year before the proposed termination
date, purchased a home from the retailer that the retailer shall be terminated.
The notification shall clearly state the responsibilities for future service
and repair under guarantees and warranties, financial claims, and all other
retailer claims and obligations previously issued under the purchase
agreement.
(2) A
terminated retailer shall retain all accounts and records prescribed by these
rules for 4 years after the date of retailer termination.
(3) If required, a retailer who terminates
shall surrender all accounts and records to the department.
(4) The person from whom records are
requested shall provide the records to the department not later than 15 days
after the date the person receives written notice of the request, unless
advised otherwise by the department.
(5) A retailer that is terminating shall post
a sign which states that the retailer is terminating.
Notes
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