Michigan Proposal C, Laws Relating to Foreclosure Initiative (1982)

Michigan Proposal C
Election date November 2, 1982
Topic Banking policy
Status Defeated
Type Indirect initiated state statute	Origin Citizens

Michigan Proposal C was on the ballot as an indirect initiated state statute in Michigan on November 2, 1982. It was defeated.

A “yes” vote supported changing laws relating to when a foreclosure may occur.

A “no” vote opposed changing laws relating to when a foreclosure may occur.

Election results

Michigan Proposal C
Result		Votes	Percentage
Yes		1,344,463	48.18%
No		1,445,897	51.82%

Results are officially certified.

Source

Text of measure

Ballot title

The ballot title for Proposal C was as follows:

“

PROPOSAL C PROPOSAL TO PREVENT A LENDER FROM USING A "DUE-ON-SALE" CLAUSE TO FORECLOSE A MORTGAGE OR LAND CONTRACT WHEN THE PROPERTY IS SOLD, UNLESS SECURITY IS IMPAIRED. The proposed law would: Prohibit court foreclosure of mortgage or land contract when based on transfer of mortgagor's or buyer's interest; EXCEPT where transfer is proved to impair security interest. If court foreclosure is based on "due-on-sale" clause and lender has not proved security impaired, then extend time to redeem property from 6 to 48 months. Prohibit without exception foreclosure of mortgage by advertisement when based on transfer of mortgagor's interest. Apply to existing and future mortgages and land contracts. Should this law be adopted? YES NO

”

Full Text

The full text of this measure is available here.

Path to the ballot

See also: Signature requirements for ballot measures in Michigan

An indirect initiated state statute is a citizen-initiated ballot measure that amends state statute. There are nine (9) states that allow citizens to initiate indirect state statutes.

While a direct initiative is placed on the ballot once supporters file the required number of valid signatures, an indirect initiative is first presented to the state legislature. Legislators have a certain number of days, depending on the state, to adopt the initiative into law. Should legislators take no action or reject the initiative, the initiative is put on the ballot for voters to decide.

In Michigan, the number of signatures required for an indirect initiated state statute is equal to 8% of the votes cast in the last gubernatorial election. As an indirect process, the Legislature has 40 days to adopt the initiative after signatures are certified. Otherwise, a simple majority vote is required for voter approval.

See also

1982 Measures

• 1982 Measures
• Banking policy on the ballot
• 1982 legislative sessions

Michigan

• Michigan ballot measures
• Michigan ballot measure laws

News and analysis

• Ballot measure lawsuits
• Ballot measure readability
• Ballot measure polls

External links

• Michigan Department of State, "Initiatives and Referendums Under the Constitution of the State of Michigan of 1963," December 5, 2008