Michigan § 493.104 - Investigation; finding; issuance of license; refusal to issue license; expiration of license.
Full text of Michigan Michigan Compiled Laws § 493.104 — Investigation; finding; issuance of license; refusal to issue license; expiration of license., with citation guidance and answers to common questions.
§ 493.104. Investigation; finding; issuance of license; refusal to issue license; expiration of license.
Upon the filing of an application and the payment of the required fees, the commissioner shall investigate the facts. If the commissioner finds that the financial responsibility, experience, character, and general fitness of the applicant, and of the applicant's members if the applicant is a partnership or association, and of the applicant's officers and directors if the applicant is a corporation, are such as to command the confidence of the community and to warrant belief that the business shall be operated lawfully, honestly, fairly, and efficiently within the purposes of this act, the commissioner shall issue and deliver to the applicant a license to engage in credit card arrangements.
The commissioner may refuse to issue a license for any reason for which the commissioner may suspend, revoke, or refuse to renew a license under section 6.
A license expires on December 31 each year.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 493.104
What does Michigan Compiled Laws § 493.104 cover?
Section 493.104 ("Investigation; finding; issuance of license; refusal to issue license; expiration of license.") 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 § 493.104?
A common citation format is "Michigan Compiled Laws § 493.104" (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 § 493.104 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.