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Public Act Number: 150
Public Act Year: 1997
Document Type(s): MCLs
(30 results found)
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Document Type Description
Section 487.1102 Section Purposes of act.
Section 487.1104 Section Definitions; A to C.
Section 487.1105 Section Definitions; I to M.
Section 487.1106 Section Definitions; O to T.
Section 487.1211 Section Books, accounts, and other records of licensee; location and preservation; valuation of assets; audit report.
Section 487.1217 Section Examination of licensee or subsidiary of licensee; exhibiting books, accounts, and other records; facilitating examination; retention of person to assist commissioner.
Section 487.1301 Section Licensure; eligibility.
Section 487.1303 Section Review of information; approval of application for license; determinations; net worth; findings; grounds.
Section 487.1305 Section Application for preliminary approval of application for license; order; conditions to final approval; fee.
Section 487.1311 Section Prohibited representations; permissible acts.
Section 487.1315 Section Michigan corporation or limited liability company licensed under another law.
Section 487.1317 Section Application to commissioner to accept surrender of license; approval; notice to owners and creditors; filing objection; sending copy of objection to commissioner.
Section 487.1401 Section Name of licensee; inclusion of word "BIDCO."
Section 487.1403 Section Board of directors; number of directors; membership; meetings.
Section 487.1405 Section Death, resignation, or removal of director, officer, or manager; election of director; appointment of officer or manager; notice to commissioner; additional information.
Section 487.1407 Section Dividend and distribution policies; buying back share of stock or membership interest.
Section 487.1503 Section Business of licensee; powers and privileges of licensee.
Section 487.1505 Section Forms, terms, and conditions of financing assistance; participation in program of small business administration; compliance; scope of management assistance; purpose of financing assistance or management assistance; exercise of incidental powers; extension of credit; interest; violation as felony; penalty; “interest” defined.
Section 487.1507 Section Holding control of business firm; order approving or denying application; “hold control” defined; plan for acquiring and holding control of business firm; demonstrating necessity to hold control of business firm.
Section 487.1509 Section Transacting business in safe and sound manner; considering risks; authority of commissioner not limited.
Section 487.1511 Section Definitions; transactions involving potential conflict of interest; authority of commissioner to determine conflict of interest not limited.
Section 487.1601 Section Acquiring control of licensee; application for approval; determinations by commissioner.
Section 487.1603 Section Merger of licensee with another business firm; conditions; purchase by licensee of business of another person; sale of business; application for approval of merger, purchase, or sale; determinations.
Section 487.1709 Section Crime involving dishonesty or breach of trust; order suspending subject person from office and prohibiting further participation in business of licensee; application for hearing on order; affirming, modifying, or rescinding order; judicial review; conviction not required; “office” defined.
Section 487.1711 Section Disclosure to owners.
Section 487.1713 Section Calling meeting of board of directors of licensee or of owners of licensee; notice; expenses.
Section 487.1801 Section Definitions.
Section 487.1807 Section Books, accounts, or other records; false entries; omission of required entry; alteration, concealment, or destruction.
Section 487.1813 Section Financing assistance to business firm to which associate of licensee provides financing assistance; applicability of section.
Section 487.1905 Section Applicability of provisions of licensee's incorporating or organizing statute.