Michigan § 487.1011 - Money transmission services; license required; exception.
Full text of Michigan Michigan Compiled Laws § 487.1011 — Money transmission services; license required; exception., with citation guidance and answers to common questions.
§ 487.1011. Money transmission services; license required; exception.
(1) Except as otherwise provided in this section and subject to section 4, a person shall not provide money transmission services in this state after December 31, 2006 without a license under this act or a class I license issued under the consumer financial services act, 1988 PA 161, MCL 487.2051 to 487.2072.
(2) A person licensed under the sale of checks act, 1960 PA 136, MCL 487.901 to 487.916, on the day before the effective date of this act may continue to provide money transmission services under that license until December 31, 2006.
(3) A license under this act is not required for a person to act as an authorized delegate of a person licensed under this act.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 487.1011
What does Michigan Compiled Laws § 487.1011 cover?
Section 487.1011 ("Money transmission services; license required; exception.") 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 § 487.1011?
A common citation format is "Michigan Compiled Laws § 487.1011" (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 § 487.1011 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.