Michigan — Statute

750.157w – Fraudulent use of financial transaction device to withdraw or transfer funds in violation of contractual limitations | Michigan Law

Michigan law 750.157w penalizes fraudulent use of financial transaction devices, with penalties based on theft amount and prior offenses. Learn more here.

Legal Content

Michigan State Law

750.157w – Fraudulent use of financial transaction device to withdraw or transfer funds in violation of contractual limitations

Michigan Penal Code § 750.157w

Summary

Michigan law section 750.157w criminalizes the fraudulent use of financial transaction devices to withdraw or transfer funds beyond contractual limits or available balances. Penalties vary from misdemeanors to felonies based on the amount stolen and prior convictions, with fines and imprisonment possible. The law aims to prevent unauthorized access and misuse of financial accounts.

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Explain Like I'm 5

In simple terms: Michigan law 750.157w penalizes fraudulent use of financial transaction devices, with penalties based on theft amount and prior offenses. Learn more here.. This means people must follow this rule, and breaking it can lead to criminal penalties.