DEPARTMENT OF CONSUMER AND INDUSTRY SERVICES

              BUREAU OF CORPORATIONS, SECURITIES AND LAND DEVELOPMENT

                     MOBILE HOME AND LAND RESOURCES DIVISION

                                  DEBT MANAGEMENT


(By authority conferred on the director of the department  of   commerce   by 
section 22 of Act No. 148 of the Public Acts of 1975,   being   S451.432   of 
the Michigan Compiled Laws)


R  451.1221   Definitions.
  Rule 1. As used in these rules:
  (a) "Act" means Act No. 148 of the Public Acts of 1975,  being  S451.411 et 
seq. of the Michigan Compiled Laws, known as the debt  management  act.
  (b) "Firm" means a debt management licensee or exempt person.
  (c) "Monthly amortizable amount" means the payment made  in  equal  monthly 
amounts, extinguishing the fees and charges stated in  the   contract,   less 
the $25.00 initial fee. No more than 1 monthly fee may  be   taken   in   any 
calendar month.
  (d) "Qualified person" means a person who has  successfully  completed  the 
examination required by section 6(3) of the act.
  (e) "Rate" means the percentage of a firm's fees or charges in  relation to 
the debt to be liquidated during the life of the contract.
  (f) "Trainee" means a person who  has  not   successfully   completed   the 
qualification examination provided by section 6(3) of the act.

  History: 1979 AC.


R  451.1222   Application  for  license  or    exemption    order;    renewal 
application.
  Rule 2. (1) The application for license or exemption order  shall   be   on 
the form prescribed by the bureau.
  (2) The application shall be accompanied by the  financial  statements   of 
the applicant for its last fiscal year and as of a date not  more   than   45 
days prior to the filing.
  (3) Financial statements, for the purposes of this rule,  shall  include  a 
balance sheet and income statement prepared in  accordance   with   generally 
accepted accounting principles.
  (4) Payment of fees shall be made by a check payable to   the   "State   of 
Michigan."
  (5) The original application shall be accompanied by  a  business   history 
form, 3 affidavits of character, and a fingerprint card  for   each   officer 
and director of an association or  corporation,  for  each   partner   if   a 
partnership, and for each proprietor, counselor, and   officer   manager.   A 
credit report on the firm shall also be submitted.
  (6) A firm that has operated without interruption during  the   past   year 
under a license or exemption order pursuant to section 4(2) of  the  act  may 
file a renewal application on the form prescribed by the bureau.
  (7) The application shall request a license or exemption  order  for   each 
location from which the business of debt management is conducted.
  (8) In the event of a change of business form, a new  application  shall be 
filed prior to the effective date  of  the  change.  The  application   shall 
include payment of a new fee as on renewal application.
  (9) The bureau shall not accept for filing an application   with   a   name 
that  would  cause  confusion  with  the  name  of  an   existing   form   or 
governmental agency or cause confusion about services to be received  from  a 
licensee.

  History: 1979 AC; 1985 AACS.


R  451.1223   Amended application.
  Rule 3. (1) A proposed change of name of a firm shall be  filed  with   the 
bureau for approval prior to effecting the change. The   bureau   shall   not 
accept a name change that would be confusing with the name  of  an   existing 
firm or governmental agency, or  cause  confusion  about   services   to   be 
received  from  a  licensee.  An  amended  application   shall    be    filed 
contemporaneously with the name change.
  (2) A firm shall file an amended application with the   bureau   within   5 
days of the occurrence of any of the following:
  (a) If a firm is a corporation, a change in its officers  or  directors.
  (b) If a firm is a partnership, a change in its members.
  (c) If a firm is a sole proprietorship, a change in ownership.
  (d) Conviction of an officer, director, partner, or  sole   proprietor   of 
the firm of a felony or misdemeanor involving moral turpitude.
  (e) Insolvency, filing in bankruptcy, receivership,   or   assignment   for 
the benefit of creditors of the licensee.
  (3) If a firm transfers its debt management business to  another  office at 
a different address, its license shall be  deemed  to  apply   to   its   new 
office only if the following requirements are met:
  (a) The bureau amends its application to reflect the  effective   date   of 
the transfer.
  (b) The firm ceases to conduct  debt  management  business   at   the   old 
address on the date indicated, and has notified its clients of the  change of 
address not less than 5 days prior to the change.
  (c) The surety company has notified the bureau that  the   bond   furnished 
pursuant to the act shall apply in full force and effect to  the  new  office 
after the date of the transfer.
  (d) The firm has submitted its  license  certificate  or   order   to   the 
bureau for reissuance to cover the new office, and the   license   or   order 
has been so reissued.
  (4) The firm  shall  promptly  file  an  amended   application   upon   the 
occurrence of any material event affecting the accuracy  of  the  information 
contained in the current application.
  (5)  When  the  partnership  agreement  of  a  firm   provides   for    the 
substitution, withdrawal,  or  addition  of  members   of   the   partnership 
without winding up the partnership business, it shall not  be  necessary   to 
obtain  a  new  license  or  exemption  order   because   of   substitutions, 
withdrawals, or additions  if  evidence  satisfactory  to   the   bureau   is 
furnished as to the following:
  (a) That the surety bond furnished pursuant to the act  shall  continue  in 
full force and effect.
  (b) The financial responsibility,  experience,   character,   and   general 
fitness of new members. The licensee shall furnish   an   executed   business 
history form, 3 affidavits of character, and a fingerprint  card   for   each 
new partner.
  (c) That the withdrawal or substitution of new partners  will  not   render 
the partnership insolvent.
  (d) That at least 2/3 in number and interest of those  who  were   partners 
when the license was applied for and issued are continuing  as   members   of 
the partnership, or that 1 of the original partners remains  in  a   2-person 
partnership and a new partner is added simultaneously with  the  departure of 
original partner.
  (6) A change in the  ownership  of  a  sole   proprietorship   firm   shall 
operate to  terminate  the  license  and  require  the  filing   of   a   new 
application and the issuance of a new license before   continuance   of   the 
debt management business.
  (7) If the firm seeks to open an  additional  branch   office,   it   shall 
amend its current application to reflect the  address   of   the   additional 
office and the name of the office manager. The licensee  or  exempted  person 
shall file the appropriate forms with the bureau  and   pay   the   statutory 
fee.

  History: 1979 AC.


R  451.1224  Rescinded.

  History: 1979 AC; 1985 AACS.


R  451.1225   Bond; cash or securities in lieu of bond.
  Rule 5. (1) Bond coverage in the penal  amount  of   $5,000.00   for   each 
office shall be filed with  an  original  or  a   renewal   application.   An 
extension of an existing bond shall not be acceptable.
  (2) If a surety company gives 30 days' notice of termination  of  a   bond, 
the firm, if continuing in the debt management business,  shall   furnish   a 
satisfactory new bond before the expiration of the  30   days.   Failure   to 
maintain a bond shall be cause for issuance of a summary suspension order.
  (3) In lieu of bond, the bureau may approve for a  firm   which   maintains 
net worth of at least $10,000.00 for each licensed or  exempted  office   the 
following:
  (a) A deposit of cash in a certificate of deposit   or   savings   account, 
which may be withdrawn only upon order of the bureau.
  (b) A deposit in escrow at a Michigan-based bank  or   savings   and   loan 
association of securities which have sufficient trading  volume   to   assure 
immediate liquidity, which securities may only be removed  from  escrow  upon 
order of the bureau and over which the bureau is given a  stock  power.   The 
bureau shall assess  a  discount  of  25%  of  the  market   value   of   the 
securities in determining the appropriate amount of deposit.
  (c) The amount of deposit of cash or securities in lieu of  bond  and   the 
duration of the deposit shall be determined by, but not be  limited  to,  the 
following:
  (i) The financial condition of the applicant.
  (ii) The liabilities of the applicant.
  (iii) The number of debtors assisted by the applicant.
  (iv) The current asset position of the applicant.
  (v) The existence of appropriate fidelity bond.
  (vi) The number of employees of the firm.

  History: 1979 AC.


R  451.1226   Debt management contract; budget  analysis  format;   creditors 
agreement form.
  Rule 6. (1) The applicant  shall  file  a  copy  of   its   proposed   debt 
management contract for debtors at the time of filing  its  application   for 
review and acceptance by the bureau.  The  contract   or   revised   contract 
shall not be used without bureau review and letter of acceptance.
  (2) The applicant shall file a copy  of  its   proposed   budget   analysis 
format with the bureau. This format, as accepted by the  bureau,   shall   be 
completed for each debtor prior  to  entry  into  any   contract   with   the 
debtor. The format shall contain not less than the following  information:
  (a) Name and address of the debtor.
  (b) Marital status and number of dependents.
  (c) All wages, salary, and other income, as well as  the  source   thereof, 
which shall include, but not be limited to,  aid   to   dependent   children, 
food stamps, welfare, or child support.
  (d) Number of exemptions claimed for federal income tax withholding.
  (e) Payroll deductions and net take-home pay.
  (f) If the debtor is the owner of  a  home,  any   encumbrance,   tax   not 
included in monthly payment, and monthly payment on the home;  if  a  tenant, 
monthly rent.
  (g) Amount and kind of other fixed periodic payments.
  (h) Complete list of living  expenses  for   food,   clothing,   utilities, 
auto, insurance, and other expenses.
  (i) List of creditors, showing accounts to be adjusted and accounts  not to 
be adjusted.
  (j) Information on any existing garnishments and judgments.
  (k) Periodic amount available for payment toward the plan.
  (3) A true copy of the budget analysis shall be provided  to  each   debtor 
before a contract is signed.
  (4) The applicant shall file a copy of its  proposed  creditor's  agreement 
form with the bureau. This form shall be accepted as to form  and  content by 
the bureau prior to use.

  History: 1979 AC.


R  451.1227   Books and records.
  Rule 7. The firm shall make and keep current  the   following   books   and 
records relating to its business:
  (a) Journals or other records of original entry  containing   an   itemized 
daily record of all payments and receipts for, or on behalf  of,  debtors  of 
the firm, all receipts and disbursements of cash, and all  other  debits  and 
credits.
  (b) Ledgers or other records reflecting all  assets,  liabilities,  income, 
expense, and capital accounts.
  (c) Ledger accounts or other records, itemizing separately   as   to   each 
debtor  all  receipts  from  the  debtor,  payments  to   the    firm,    and 
disbursements on behalf  of  the  debtor,   the   creditor's   representative 
contacted, the response obtained or whether  there  has   been   a   response 
within 14 days after the mailing of the creditor consent form, any revised or 
special conditions or arrangements conditioning the  consent,  and  the  date 
at which the required consents were secured. The  record  shall  also contain 
a certification by an officer, partner, sole proprietor,  or  office  manager 
that consents required by section  13(1)  of  the  act  have  been obtained,  
the   date   that    the    requirement     was     satisfied,     and     an 
identification of the creditors constituting the acceptance base.
  (d) A complaint file containing copies of all written  complaints  made  to 
the firm by debtors.
  (e) Personnel files  for  all  employees,  listing   name,   current   home 
address, home phone number, social security number, and a   record   of   all 
compensation.

  History: 1979 AC.


R  451.1228   Financial reports; audit.
  Rule 8. (1) Each firm shall submit a detailed balance  sheet   and   income 
statement within 4 months after the end of its fiscal year.  The  bureau  may 
modify or waive the income statement requirement. These  statements,  if  not 
pursuant to audit, shall be certified as to  correctness   by   an   officer, 
partner, or proprietor of the firm. If the firm is a  sole  proprietorship  a 
personal balance sheet of the proprietor shall be submitted with,  and  as of 
the same date as, the balance sheet of the firm.
  (2) The bureau may at any time require the filing of  special  financial or 
other operational reports if it finds that  such  filing  is  in  the  public 
interest and for the protection of debtors.
  (3) If a firm services more than 100 debtors, an audit shall be required of 
the firm annually. The audit shall be  done  pursuant  to  an  approved audit 
plan submitted by an independent  accountant  and  accepted  by   the  bureau 
in writing.

  History: 1979 AC.


R  451.1229   Incomplete applications.
  Rule 9.  If  an  applicant  fails  to  complete,  or,   if   an   applicant 
withdraws, an application within 6 months from the  date   of   filing,   the 
administrator may summarily deny the application  as   an   inactive   filing 
without prejudice to reapplication.

  History: 1979 AC.


R  451.1230   Cancellation of contract.
  Rule 10. Upon written notice of cancellation of  a   contract,   the   firm 
shall promptly refund to the  debtor  all  the  amounts  due  the  debtor.
Failure to make prompt repayment shall constitute   an   unethical   business 
practice, and may constitute grounds  for  summary   suspension.   The   firm 
shall not be required to stop payment of checks to  creditors   pursuant   to 
this cancellation, and may retain in the account funds   relating   to   lost 
checks for subsequent reissue to the same creditor.

  History: 1979 AC.


R  451.1231   Qualifications of  applicant;   examination;   trainees;   fee; 
terms of qualified person; termination of employment.
  Rule 11. (1) An  applicant  for  a  license  or   exemption   order   shall 
demonstrate education or experience sufficient to  provide  understanding  of 
laws governing debtor-creditor relationships,  business   transactions,   the 
debt management act,  the  rules  promulgated  pursuant   thereto,   and   an 
understanding of accounting procedures by the successful  completion  of   an 
examination administered by the bureau or its designee.
  (2) Each officer, partner, or proprietor of an   applicant,   each   person 
serving in a managerial capacity involving counseling,  and  each  individual 
counselor  to  be  employed  by  an  applicant  shall  take   and   pass   an 
examination administered by the bureau or its designee  pursuant  to  section 
6(e) of the act.
  (3) Trainees may not serve as office managers, and shall   be   under   the 
complete supervision of  a  person  who  has   successfully   completed   the 
examination or a person exempted by section 7 of the act.
  (4) All persons not exempted from the examination provisions  of  the   act 
pursuant to section 7 shall  successfully  complete   the   examination   not 
later than January 1, 1978.
  (5)  A  nonrefundable  fee  of  $25.00  shall  be   assessed    for    each 
examination.
  (6) A qualified person may be transferred from one firm  to   another,   if 
both of the following apply:
  (a) Prior to transfer, the qualified person   terminates   the   employment 
with the original firm, and that firm and the  person  file   a   notice   of 
termination on the form prescribed by the bureau.
  (b) The new firm and the person transferring file a notice of employment on 
the form prescribed by the bureau.
  (7) A firm or person shall not refuse to sign a   termination   form   when 
requested.
  (8) If a qualified person's employment is terminated,  the  employing  firm 
and the person shall file a notice of termination on the  form  prescribed by 
the bureau within 7 days of the termination.
  (9) If a qualified person has not been employed by a firm for  the  past 12 
 months,  that  person   must   retake   and   successfully   complete    the 
examination prior  to  conducting  a  scheduling,   counseling,   or   budget 
analysis function, except as a trainee under the direct  supervision   of   a 
qualified person.

  History: 1979 AC.


R  451.1232   Change in business form not requiring examination.
  Rule 12. A person exempt from the  examination   requirement   of   section 
6(3) of the act by section 7 of the act shall not be required to  complete an 
examination because of a change in the business form  of  the  firm  if there 
is no interruption of the services provided by the firm.

  History: 1979 AC.


R  451.1233   Renewal applications.
  Rule 13. Renewal applications shall  be  filed  at   the   central   bureau 
office by December 1 of each year. Failure to file by that date may result in 
summary suspension until the application is received.

  History: 1979 AC.


R  451.1234   Dishonest or unethical business conduct.
  Rule 14. Dishonest or unethical business conduct, as provided in section  9 
of the act, includes, but is not limited to, the following:
  (a)  Failure  to  promptly  refund  a  debtor's    money    upon    written 
cancellation of a contract.
  (b) Borrowing money from a debtor.
  (c) Giving preference to creditors for the convenience or  benefit  of  the 
firm rather than the primary benefit of the debtor.
  (d) Receiving money from the debtor, except as provided  in  the   contract 
with the debtor, which contract has been accepted as to form  and  content by 
the bureau.
  (e) Failing to promptly record on the books of the  firm  any   transaction 
involving funds of the debtor.
  (f) Paying funds of a debtor to a fictitious creditor.
  (g) Accepting a rebate, kickback, or other remuneration for  payment  of  a 
debtor's obligations, except under a plan approved by the  bureau  and  fully 
disclosed to the debtor.
  (h) Using debtors' funds as compensating balances for loans.
  (i) Making erasures or changes on the portion of the  client  account  card 
used for recording payments received from the debtor, on  checks  issued   to 
creditors, on fees taken, or on the dates of such entries. If a correction is 
needed, the error shall have 1 line drawn through it and  be  initialed by  a 
qualified person who did not  make  the  correction  or  change.  All entries 
should be made with ink, shall be typewritten, or  shall  be  made  by  other 
machine entry.

  History: 1979 AC.


R  451.1235   Posting statutory  provision,  address,   and   phone   number; 
filing fee schedule and amendments thereto.
  Rule 15. (1) The firm shall prominently post at all offices,  in  not  less 
than 8-point type, the provisions of sections 13(1), 14(1), and  18  of   the 
act, as well as the address and phone number of the bureau.
  (2) The firm shall annually file with the bureau its fee  schedule   or   a 
schedule of its range of fees, and shall file amendments to that  schedule  5 
days prior to any change in fees charged to the debtor.

  History: 1979 AC.


R  451.1236   Employment qualifications.
  Rule 16. A firm shall not knowingly employ a person, except as  approved by 
the administrator, as an office manager or counselor who has:
  (a) Been convicted of a crime involving  moral   turpitude,   which   shall 
include forgery, embezzlement,  obtaining  money   under   false   pretenses, 
larceny, extortion, conspiracy to defraud, or any other like offense.
  (b) Violated or failed to comply with a provision of the act, or a  rule or 
order promulgated or issued pursuant to the act.
  (c) Had a license to engage in the business of debt  management  revoked or 
suspended in this state or another  state   for   any   reason   other   than 
failure to pay licensing fees.
  (d) Defaulted in the payment of money collected   for   others,   including 
the discharge of debts, because of bankruptcy   proceedings.   The   director 
may, at his discretion, waive this restriction if provided  with  evidence of 
justifiable cause for the  bankruptcy,  plus  convincing  evidence   of   the 
fitness of the bankrupt party to carry out his or her  functions  under   the 
act.

  History: 1979 AC.


R  451.1237   Procedures;   review;   verification    of     receipts     and 
disbursements.
  Rule 17. (1) Each firm shall prepare and maintain a  manual  detailing  the 
procedures for compliance with the act.
  (2) Each qualified person or trainee of the firm shall  be  provided   with 
the manual.
  (3) An officer, partner, or sole  proprietor,  or  a   person   under   the 
direct supervision of such a person, shall review the  following   at   least 
quarterly:
  (a) Debtors' accounts.
  (b) Checks paid by the firm.
  (c) Procedures for handling cash and checks of the firm.
  (d) The firm complaint file.
  (e) Selected creditor accounts to verify payment.
  (f) Selected counselor records and work  papers  of   each   counselor   to 
verify the accuracy of counselor guidance to the debtor.
  (4) At least annually, the firm  or  its  accountant   shall   verify   the 
receipts and disbursements with the debtor.

  History: 1979 AC.


R  451.1238   License.
  Rule 18. (1) A license shall be issued for each main  office   and   branch 
office rendering debt management service.
  (2) Whenever a licensee or exempt person discontinues   the   business   of 
debt management, whether totally or at a specific   location,   the   license 
certificate, or exemption order, shall be mailed to  the   bureau's   central 
office within 5 days. An explanation of the reason  for   discontinuance,   a 
statement of any amounts remaining in the client trust   account,   and   the 
plan  and  timetable  for  disbursement  shall    accompany    the    license 
certificate, or exemption order,  unless  all   accounts   are   transferred, 
without interruption in service, to another of the firm's branches.
  (3) A license shall not be terminated for a firm unless it  is  revoked  or 
unless all payments due creditors or  debtors  have  been   made,   and   the 
bureau issues an order terminating the license.

  History: 1979 AC.


R  451.1239   Budget analysis.
  Rule 19. (1) A copy of the budget analysis  shall  be   retained   in   the 
debtor's file for a period of 6 years after the last transaction.
  (2) The budget analysis shall be signed by a  qualified   person   of   the 
firm who participated in the preparation of the analysis.

  History: 1979 AC.


R  451.1240   Certification of compliance.
  Rule 20. (1) Every contract between a licensee or   exempted   person   and 
the debtor shall be signed by both parties, and the   debtor's   copy   shall 
also be manually executed. The copy retained by the  licensee   or   exempted 
person shall be kept in the debtor's file for 6 years after   the   date   of 
the last transaction.
  (2) Every contract shall specify in detail  the  amount   and   method   of 
taking any fees or charges which the debtor shall be  assessed   during   the 
life of the contract.
  (3) Every contract shall  set  forth,  in  bold  type,   the   set-up   and 
cancellation fee provisions and amounts, and advise the prospective client to 
note these carefully before signing the contract.
  (4) The bureau may approve the accumulation of debtor's funds in payment of 
obligations which are required to be paid  in  large  lump  sums,   such   as 
income and property taxes, insurance premiums,  and   house   payments.   All 
such accumulations, however, shall be designated for   a   specific   purpose 
and shall not be used to pay for fees and charges, including  the  close  out 
fee of the firm.

  History: 1979 AC.


R  451.1241   Reconciliation.
  Rule 21. (1) The trust account reconciliation  shall   contain   provisions 
for recording and identifying the balance in each   debtor's   account,   the 
balance from the bank statement, the  check  number  and   amount   of   each 
outstanding check, the date and amount of deposits not yet  credited  by  the 
bank, the reconciled bank balance, the balance from the  checkbook,   and   a 
detailed breakdown of any differences.
  (2) Remedial action, as provided in section 15(4) of the  act,   shall   be 
either an immediate replacement of funds, or  an   immediate   cessation   of 
business until sufficient funds are placed in the account.

  History: 1979 AC.


R  451.1242   Receipt; statement of disbursements.
  Rule 22. (1) A receipt, as provided in section 16(c) of  the   act,   shall 
not be required for payments by check or money order made  payable   to   the 
firm.
  (2) The statement prepared in compliance with section 16(e)  of   the   act 
shall be prepared as of a date no earlier than the date of  the  first   full 
distribution to creditors under the contract.

  History: 1979 AC.


R  451.1243   Separate remuneration prohibition; waiver  or  modification.
  Rule 23. All  requests  for  waiver  or  modification   of   the   separate 
remuneration prohibition of section 19(h) of the  act  shall   be   made   in 
writing to the central office of the bureau, setting forth  in   detail   the 
need for such waiver or modification; the persons or  entities   from   which 
the benefit will be solicited or  sought;  the  amount   or   percentage   of 
contribution solicited from donors in  the  capacity  of   creditor   for   a 
debtor; any relationship, affiliation, or connection creating  an  actual  or 
potential conflict of interest  between  the  parties   involved;   and   any 
reciprocal arrangements made or to be made. The bureau  shall   examine   the 
proposal promptly and shall,  within  15  days,  notify   the   licensee   or 
exempted person of its  decision,  or  of  the   necessity   for   additional 
information. All such decisions shall be in writing  and   shall   give   the 
effective date of the declaratory ruling.

  History: 1979 AC.


R  451.1244   Advertising.
  Rule 24. (1) Tombstone advertisements which contain  only  the  information 
provided below shall be exempt from the filing provisions of section 20(1) of 
the act, unless the bureau, by order, revokes the  exemption  as  to  a  firm 
or individual:
  (a) Name of the firm.
  (b) Address.
  (c) Phone number.
  (d) Brief description of the service.
  (e) Name of the officer, partner, sole proprietor, or  office  manager,  if 
desired.
  (f) Logotype or similar symbol, if desired.
  (2) Advertisements filed pursuant to section 20(1) of the  act   shall   be 
filed in duplicate.
  (3) The following items include, but are not limited  to,   actions   which 
constitute false, misleading, or deceptive advertising:
  (a) Failure to clearly identify the firm in all advertising.
  (b) Publication or dissemination of advertising which confuses, or tends to 
confuse, the public as to the actual identity of the firm or  service  to  be 
performed.
  (c)  Statement  guaranteeing,  or  otherwise   stating    or    excessively 
implying, the success of a  debt  management  program   for   a   prospective 
client.
  (d) Representation that services are offered at a reduction from  normal or 
competitive fees, if the statement is not true.
  (e) Representation that the fees or charges are otherwise   than   in   the 
contract and fee schedules on file with the bureau.
  (f) Representation that services offered to the  prospective   client   are 
other than debt management services.
  (g) Representation that the firm is sponsored, endorsed,  or  approved   by 
any organization or governmental agency when, in fact, a written  document to 
that effect, acceptable to the bureau, is not on file with the  bureau.

  History: 1979 AC.


R  451.1245   Charges for other services.
  Rule 25. (1) A firm or affiliate thereof shall not charge  a   debtor   for 
any services or goods, or make other charges, unless the  firm  or  affiliate 
has filed with the bureau a plan setting forth the basis  of   charges,   and 
the bureau has determined that such charges in the future do not result in an 
excessive fee in violation of section 18 of the act.
  (2) If a firm or  affiliate  thereof  proposes  to  alter   its   plan   of 
charges, the amended plan shall be filed  with  the   bureau   and   approved 
prior to use.

  History: 1979 AC.


R  451.1246   Rescission.
  Rule 26. Rules 1201 to 1217 of the  rules   entitled   "Debt   Management," 
being R 451.1201 to R 451.1217 of the  Michigan   Administrative   Code   and 
appearing on pages 5792 to 5795 of the 1970-71 Annual  Supplements   to   the 
Code, are rescinded.

  History: 1979 AC.