How our department monitors insurance market practices
Insurance Company Contract and Rate Filings
DIFS Prohibition Orders for Consumer Finance and Credit Union.
Licensing - Consumer Finance and Mortgage
Consumer Finance and Mortgage Forms
BIDCO and Anti-Redlining Forms.
Statutes, Rules and Regulations
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The Money Transmission Services Act 250 of 2006 provides for the licensing and regulation of money transmission in the state of Michigan. Money transmission includes the selling or issuing of payment instruments or stored value devices or receiving money or monetary value for transmission. A money transmission licensee is required to demonstrate and maintain a minimum net worth of $100,000 up to a maximum of $1,500,000. Net worth and surety bond amounts are determined based on the number of locations and authorized delegates operated by the licensee.
Money Transmission Services Act - Amended (effective March 28, 2019)
