Mich. Admin. Code R. 487.2121 - Definitions
Rule 1. As used in these rules:
(a) "Act " means the Deferred Presentment
Service Transactions Act , 2005 PA 244, MCL 487.2121 to MCL 487.2173.
(b) "Archive " means to copy data to a
long-term storage mechanism apart from the database.
(c) "Commissioner " means the commissioner of
the office of financial and insurance services.
(d) "Customer transaction data" means all
data reported to the database pertinent to a particular customer transaction,
including the date of the transaction, identification of the licensee and
location, the sum of money involved, the time payment is deferred, fees
charged, any alleged violations of the Act , and any identifying customer
information.
(e) "Database " means
the database described specifically in Section 22 of the act .
(g) "Delete " means to erase data by
overwriting the data.
(h)
"Identifying customer information" means the name of the customer , his or her
Social Security number, driver license number, or other state-issued
identification number, address, any account numbers or information specific to
a check or draft drawn by a customer on a bank, savings bank, savings and loan
association, or credit union, and any other nonpublic, personal financial
information of a customer entered into the database or that comes into the
possession of the database provider through customer or licensee inquiry or
report.
(i) Other terms defined in
the act have the same meanings when used in these rules.
Notes
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.
No prior version found.