Section 493.20. Advertising.

(1) A licensee shall  maintain  copies   of  all  direct  mail advertising material that is mailed from any location and marketed to residents of Michigan.  The date that the direct mail advertising material was used shall be indicated on the material. A licensee that operates 2 or more licensed offices located in Michigan may,  upon   notice  to  the commissioner, maintain 1 record of the advertising material required by this rule in a centrally located office in Michigan for all licensed offices. A licensee that does not have a licensed office located in Michigan shall maintain the copies required by this rule at its  home  office. All  copies that are required to be maintained by  the   rule  shall  be  retained  for  a minimum of

3  years and shall be made available  for inspection by a representative of the bureau.

(2)    An address shall not be carried in any advertisement, except for the address of a licensed office or the home office of the licensee.

(3)     A  licensee shall  not  pay any person  for loan applications or recommendations.

History: 1981 AACS; 1983 AACS; 1997 AACS.