Mich. Comp. Laws § 493.22: Amendments or repeals of act; impairment of obligation.

Sec. 22.

This act or any part thereof may be modified, amended, or repealed so as to effect a cancellation or alteration of any license or right of a licensee hereunder, provided that such cancellation or alteration shall not impair or affect the obligation of any pre-existing lawful contract between any licensee and any borrower.