This bill amends the existing law regarding home solicitation sales in Michigan, specifically 1971 PA 227. The title of the act is updated, and the regulation of telephone solicitation is removed from the scope of the act. Key definitions are clarified, including the terms "business day," "home solicitation sale," and "goods or services." Notably, the bill specifies that a home solicitation sale does not include transactions made in accordance with prior negotiations at a fixed location or sales of certain financial products. Additionally, the bill introduces new requirements for sellers, including the necessity to provide a written agreement that outlines the buyer's right to cancel the transaction within three business days.

Furthermore, the bill mandates that the notice of cancellation must be clearly presented in the agreement, and it must be in bold type that is larger than the contract text. The seller is required to comply with these provisions before the buyer can cancel the sale. The bill also repeals sections 1a to 1e of the original act, which pertained to telephone solicitation. The enactment of this bill is contingent upon the passage of Senate Bill No. 351 of the 103rd Legislature.

Statutes affected:
Senate Introduced Bill: 445.111, 445.113
As Passed by the Senate: 445.111, 445.113