Michigan Compiled Laws

Mich. Comp. Laws § 445.860 (2026)

Retail installment contracts; statement of dates, payments and unpaid balances; receipt.

✓ current as of July 2026

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RETAIL INSTALLMENT SALES ACT

Act 224 of 1966

445.860 Retail installment contracts; statement of dates, payments and unpaid balances; receipt.

Sec. 10.

Upon written request of the buyer, the holder of a retail installment contract shall give or forward to the buyer a written statement of the dates and amounts of payments and the total amount unpaid under the contract. A buyer shall be given a written receipt for any payment when made in cash. The statement or receipt shall be given the buyer once without charge; if any additional statement is requested by the buyer, it shall be supplied by the holder at a charge not in excess of $1.00 for each additional statement or receipt so supplied.

History: 1966, Act 224, Eff. Mar. 10, 1967

Notes of Decisions

Cited in 1 case, 1984–1984 · leading case: Boyd v. Nelson Credit Centers, Inc, 348 N.W.2d 25 (Mich. Ct. App. 1984).

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Boyd v. Nelson Credit Centers, Inc, 348 N.W.2d 25 (Mich. Ct. App. 1984). “Plaintiffs’ reliance on MCL 445.860; MSA 19.416(110) is misplaced; that section requires a holder of a retail installment contract to forward to the buyer upon written request a written statement of the dates and amounts of payments and the total amount unpaid under the contract.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.