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Read. Follow. Verify.Michigan SB 739 updates motor vehicle sales finance rules, licensing requirements, and fee structures
Last action · June 10, 2026: PLACED ON ORDER OF THIRD READINGSponsors: Mary Cavanagh and 1 other
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What This Bill Would Do
Senate Bill 739 modifies the Motor Vehicle Sales Finance Act by updating licensing procedures through the NMLS, revising bond requirements, altering application and renewal timelines, and establishing civil fines and penalties for unlicensed activity. The measure applies to motor vehicle installment sellers, sales finance companies, and retail buyers in Michigan.
Changes regulatory oversight, licensing fees, background check mandates for s, and enforcement mechanisms for auto lenders and installment sellers operating in Michigan.
- The Motor Vehicle Sales Finance Act governs the installment sales and financing of motor vehicles in Michigan. context
- The Nationwide Multistate Licensing System (NMLS) is commonly utilized across states to streamline mortgage, money transmitter, and consumer finance licensing. context
Who It Would Affect
Groups the bill's text would affect if enacted, as described in the record. Being affected is not a position for or against it.
Motor vehicle installment sellers
Must comply with updated application procedures, fee schedules, contract disclosure rules, and record-keeping mandates.
Sales finance companies
Subject to new control person background check requirements, NMLS reporting procedures, bond provisions, and revised administrative fine structures.
Retail buyers
Receive standardized contract disclosures, payment receipt protections, and clearer rights regarding prepayment and default charges.
Key Facts
You don't have to trust us. Each fact below is taken straight from the official document - click any one to see the exact passage, highlighted in the original.
Frequently Asked Questions
What is the penalty for operating as a motor vehicle sales finance company without a license under this bill?
What new background check requirements apply to control persons of sales finance companies?
What else do you want to know?
News Coverage
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Votes, people, money & the original sourceWhere This Stands
Currently on floor. The next step in the legislative lifecycle is Passed.
Procedural history
6 actions- Jun 10, 2026SenatePLACED ON ORDER OF THIRD READING
- Jun 10, 2026SenateREPORTED BY COMMITTEE OF THE WHOLE FAVORABLY WITHOUT AMENDMENT(S)
- Apr 23, 2026SenateCommitteeREFERRED TO COMMITTEE OF THE WHOLE
- Apr 23, 2026SenateCommitteeREPORTED FAVORABLY WITHOUT AMENDMENT 4/22/2026
- Dec 16, 2025SenateCommitteeREFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION
- Dec 16, 2025SenateIntroducedINTRODUCED BY SENATOR MARY CAVANAGH
Version history
Only one version on file - nothing to compare yet. As later stages (committee substitute, engrossed, enrolled) are captured, the redline appears here.
View official text →Lobbying Activity
No state lobbying filings in our records match this bill. Federal lobbying reports (LDA) cover Congress, so they are not listed on state bills.
Full breakdown
Who this bill affects and the strongest case for and against it, written only from the bill’s own text.
Sponsors
Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Integration of NMLS for Licensing
The bill shifts administrative processing and record maintenance for motor vehicle sales finance companies to the Nationwide Multistate Licensing System.
Connected Entities
Sources
legislature.mi.gov
Analysis Score
0–100- Significance75How much this matters to a regular citizen
- Controversy20Intensity of disagreement among stakeholders
- Entertainment5Compellingness for a non-policy-wonk reader
- Buzz15Current news / social attention level
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