HB6196 — Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the motor vehicle sales financing act. Amends sec. 5 of 1950 (Ex Sess) PA 27 (MCL 492.105). TIE BAR WITH: HB 6177'26

HB6196 — Financial institutions: mortgage brokers and lenders; consolidation of certain licensing statutes related to residential mortgages; make conforming changes in the motor vehicle sales financing act. Amends sec. 5 of 1950 (Ex Sess) PA 27 (MCL 492.105). TIE BAR WITH: HB 6177'26 · Informed CitizenryHouse Bill 6196 amends the Motor Vehicle Sales Finance Act to modify the bonding requirements for sales finance companies. The bill specifies that a bond in the amount of $20,000 is required for th…Open in Informed Citizenry