Mich. Admin. Code R. 432.408 - Invoices for equipment
Rule 408.
(1) A
licensed supplier shall record every sale, rental, return, dealer cost, or any
other type of transfer of equipment to or from licensees by completing a sales
invoice or credit memo.
(2) All
invoices for equipment and dealers shall be sequentially numbered and issued in
sequential order or as directed in writing by the executive director.
(3) An invoice for equipment and/or dealers
supplied to a licensee shall be given to the licensee before the millionaire
party.
(4) The invoice shall
contain all of the following:
(a) The amount
of each sale.
(b) All
credits.
(c) All
exchanges.
(d) All sales
premiums.
(e) All rebates or
discounts.
(f) The net amount of
each sale.
(g) Any other
information as directed in writing by the executive director.
(5) A licensed supplier shall
retain all voided or spoiled invoices for equipment and/or dealers.
Notes
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