The web Browser you are currently using is unsupported, and some features of this site may not work as intended. Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer.
What written procedures must a licensee maintain?
Rule 17(1) requires each licensee to prepare and maintain a manual detailing all procedures to ensure compliance with the Act. These procedures should include the steps employees take to complete all aspects of day to day activities and must also address specific areas the Act addresses. These specific requirements include monitoring for 51% of creditor consent, completing the annual duties required by Section 16(1)(g), adding or removing creditors, and updating and maintaining budget analyses. This list is not all-inclusive.