Michigan § 445.1668e Violation of order; exceptions.

Michigan Statutes

§ 445.1668e — Violation of order; exceptions.

Michigan § 445.1668e

Ch. 445TRADE AND COMMERCE

Act 173 of 1987MORTGAGE BROKERS, LENDERS, AND SERVICERS LICENSING ACT (445.1651-445.1684)

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Bluebook

Mich. Comp. Laws § 445.1668e (2026).

Text

MORTGAGE BROKERS, LENDERS, AND SERVICERS LICENSING ACT (EXCERPT) Act 173 of 1987 445.1668e Violation of order; exceptions. Sec. 18e. A control person who is subject to an order issued under section 18a and who meets all of the following requirements is not in violation of the order:

(a)The control person shall not in any manner, directly or indirectly, participate in the control of a licensee or registrant after the date the order is issued.

(b)The control person shall within 6 months after the date the order is final transfer any interest the control person owns in a licensee or registrant to an unrelated third party.

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MORTGAGE BROKERS, LENDERS, AND SERVICERS LICENSING ACT (EXCERPT) Act 173 of 1987 445.1668e Violation of order; exceptions. Sec. 18e. A control person who is subject to an order issued under section 18a and who meets all of the following requirements is not in violation of the order: (a) The control person shall not in any manner, directly or indirectly, participate in the control of a licensee or registrant after the date the order is issued. (b) The control person shall within 6 months after the date the order is final transfer any interest the control person owns in a licensee or registrant to an unrelated third party.