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Michigan Compiled Laws, Chapter 339. Occupational Code § 339.908

Current as of January 01, 2025 | Updated by Findlaw Staff

Sec. 908.  (1) As used in this section, “owner manager” means a person who does all of the following:

(a) Obtains a license under section 904   1 as an individual, a partner in a partnership, or an officer of a corporation.

(b) Meets all the requirements specified in section 911(2). 2

(c) Personally supervises an office of the collection agency for which he or she obtains a license under section 904.

(2) A collection agency shall not engage in the collection agency business unless each collection agency office is under the personal supervision of a licensed collection agency manager or an owner manager.  An owner manager shall not be required to be licensed as a collection agency manager.  An out of state collection agency which initiates collection activity from within this state shall be required to be under the personal supervision of a licensed collection agency manager or owner manager.

(3) A collection agency shall notify the department in writing of the person responsible for the operation of each office.  The notification shall be made not more than 30 days after the person assumes the responsibility.

(4) A person shall not personally supervise more than 1 office.

1  M.C.L.A. § 339.904.
2  M.C.L.A. § 339.911.
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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 339. Occupational Code § 339.908 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-339-occupational-code/mi-comp-laws-339-908/

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