{"data":{"id":"us-mi/mich.-comp.-laws-493.4","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 493.4","heading":"Investigation; findings; issuance or denial of license; notice; transcript of decision and findings.","body":"Sec. 4.\n\nUpon the filing of the application, the payment of the fees, and the approval of the bond, the commissioner shall investigate the applicant and if he or she finds that the financial responsibility, experience, character, and general fitness of the applicant are such as to command the confidence of the community and to warrant belief that the business will be operated lawfully, honestly, fairly, and efficiently within the purposes of this act and that the applicant has a net worth in the amounts required under section 2, the commissioner shall issue a license to the applicant to conduct business at the location or locations specified in the application. The license shall remain in effect until it is surrendered by the licensee or revoked or suspended as provided under this act.\n\nIf the commissioner finds that the applicant fails to meet the requirements of this act, he or she shall not issue a license and shall notify the applicant of the denial and return to the applicant the bond and fee paid by the applicant, retaining the investigation fee to cover the costs of investigating the application.\n\nThe commissioner shall approve or deny every application for license within 60 days from the date that the application was filed with the fees and the approved bond.\n\nIf the application is denied, the commissioner shall within 20 days from the date of denial file with the office of financial and insurance services a written transcript of the decision and findings containing the evidence and the reasons supporting the denial and shall serve upon the applicant a copy of the filing.","path":["MI Code","Chapter 493","Act Act-21-of-1939"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-493-4","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"09e02d465f976797de46101f99ec7726b39fd724c7a0b38b0f4679f4d1048175","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-493.3","next":"us-mi/mich.-comp.-laws-493.5"},"notice":"GroundRules: Original legal text. Not legal advice."}