A licensee may amend the address or the name in its license certificate. An amendment is required if the licensee has a change in the business name or physical location. A license certificate will not be transferred to new owners.

Section 7 of the Act provides for the amendment of a license. That section reads:

“Sec. 7(c) A licensee may change his or her place of business to another location within the same municipality for which the license certificate was issued. A licensee desiring to change the address of his or her place of business shall give prior written notice to the administrator and shall return the license certificate to the administrator for amendment. The administrator shall amend the license certificate to show the new address and the date of the change, which shall then be the authorized address of the licensee. A licensee shall pay a fee of $10.00 to amend a license certificate.”

“Sec. 7(d) Only 1 place of business may be operated under the same license. A licensee may operate more than 1 place of business by filing an application on the prescribed form for each additional place of business and complying with the bond and license fee provisions of this act. For an installment seller only, if every place of business is conducted in 1 city under 1 name and all business records are continuously kept in 1 place, only 1 license shall be required for all places of business conducted in that city.”

“Sec. 7(b) A license shall not be transferable or assignable.”

An address amendment:

A person or company must request an amendment to the address in the license certificate, if it changes its physical location.

If the new location will be within the same municipality, submit the following documents and information:

• A written request to amend the license certificate.
• The original license certificate that contains the commissioner’s signature.
• $10.00 amendment fee made payable to the State of Michigan for each license certificate.
• A surety bond rider to correct the bond if a bond is required for the license.

If the new location will be outside the municipality where it currently is located, submit the following documents and information:

• A new license application.
• A new license requires a fee of $30.00, made payable to the State of Michigan, for an installment seller, and $75.00 or $150.00 for a sales finance company. Check the specific requirements under the procedures to license a sales finance company.
• A surety bond for a sales finance license.
• Return the original license certificate for cancellation.

An amendment to the name:

If a licensee intends to transact business with a name other than is reflected in the license certificate, it must first obtain an amended license certificate with that name. This includes the company name as well as any changes to the assumed name. A person or company may not use a name other than that reflected in the license certificate.

Submit the following documents and information if there is a change in the business name:

• A written request to amend the license certificate.
• The original license certificate that contains the commissioner’s signature.
• $10.00 amendment fee made payable to the State of Michigan for each license certificate.
• A resolution that will authorize the change in the name of the licensee, if it is a legal entity. This document must be issued by the corporate board of directors, company members, or partnership members and be an original or a certified true copy.
• The Michigan authority to conduct business, articles of incorporation, articles of organization, or articles of partnership must be amended prior to amending the name.
• A surety bond rider to correct the bond, if a bond is required for the license.

The License Certificate is Not Transferable:

A new license certificate must be obtained before the company’s ownership is changed. The new license certificate can be obtained by submitting a new application then following the procedures that accompany that application. All requirements of the application must be met.

Send the amendment request and documentation to:

Consumer Finance Unit
P. O. Box 30220
Lansing, MI 48909

Or for overnight delivery:

Consumer Finance Unit
611 W. Ottawa Street, 3rd Floor
Lansing, MI 48933

Questions pertaining to the completion of an amendment request may be directed to the Consumer Finance Unit at (877) 999-6442.