MICHIGAN BIDCO ACT (EXCERPT)
Act 89 of 1986


487.1513 Lien on or security interest in property of licensee.

Sec. 513.

     Except with the approval of the commissioner, a licensee shall not provide a lien on or security interest in any of its property for the purpose of securing an obligation of, or an obligation incurred for the benefit of, another person.


History: 1986, Act 89, Imd. Eff. May 1, 1986




Rendered 8/16/2025 12:57 PM
Michigan Compiled Laws Complete Through PA 5 of 2025
Courtesy of legislature.mi.gov