Financial institutions: other; certain references in the regulatory loan act; make gender neutral. Amends sec. 17 of 1939 PA 21 (MCL 493.17). TIE BAR WITH: HJR F'25

HB 4605 updates Michigan's Regulatory Loan Act to replace gendered terms like "husband and wife" with gender-neutral language such as "spouses" in Section 17 (MCL 493.17). This change affects married borrowers who must sign liens on household goods, ensuring the requirement applies equally regardless of gender. The bill revises the law's wording to remove outdated references while maintaining the existing requirement for both spouses' signatures. The amendment is contingent on a related constitutional change being adopted, as specified in the enacting section.