Michigan § 487.2066a - Licensee engaged in loan servicing activities; appointment of conservator or receiver.
Full text of Michigan Michigan Compiled Laws § 487.2066a — Licensee engaged in loan servicing activities; appointment of conservator or receiver., with citation guidance and answers to common questions.
§ 487.2066a. Licensee engaged in loan servicing activities; appointment of conservator or receiver.
If the commissioner determines that a licensee engaging in loan servicing activities, intentionally or as a result of gross or wanton negligence, is not servicing, as applicable, mortgage loans or secondary mortgage loans as required by law or by the terms of the servicing contracts, the commissioner may appoint a conservator for the licensee and require the conservator to provide a bond or security as the commissioner considers necessary. Alternatively, the commissioner, through the attorney general, may apply to the circuit court for the county in which the licensee is located for the appointment of a receiver for the licensee.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 487.2066a
What does Michigan Compiled Laws § 487.2066a cover?
Section 487.2066a ("Licensee engaged in loan servicing activities; appointment of conservator or receiver.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 487.2066a?
A common citation format is "Michigan Compiled Laws § 487.2066a" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 487.2066a apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.