Mich. Admin. Code R. 451.1230 - Cancellation of contract

Current through Vol. 22-05, April 1, 2022

Rule 10. Upon written notice of cancellation of a contract, the firm shall promptly refund to the debtor all the amounts due the debtor. Failure to make prompt repayment shall constitute an unethical business practice, and may constitute grounds for summary suspension. The firm shall not be required to stop payment of checks to creditors pursuant to this cancellation, and may retain in the account funds relating to lost checks for subsequent reissue to the same creditor.

Notes

Mich. Admin. Code R. 451.1230
1979 AC

The following state regulations pages link to this page.



State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.