Michigan § 451.417 Applicability of examination provisions.

Michigan Statutes

§ 451.417 — Applicability of examination provisions.

Michigan § 451.417

Ch. 451SECURITIES, REAL ESTATE, AND DEBT MANAGEMENT

Act 148 of 1975DEBT MANAGEMENT ACT (451.411-451.437)

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Bluebook

Mich. Comp. Laws § 451.417 (2026).

Text

DEBT MANAGEMENT ACT (EXCERPT) Act 148 of 1975 451.417 Applicability of examination provisions. Sec.

7.Except as provided in this act, the examination provisions of this act shall not apply to the existing officers, directors, partners, or individual owners of currently licensed debt management businesses unless any of those persons cease to be engaged in the debt management business with their currently licensed firm. To reenter the business at a subsequent time, a person shall satisfy the examination provisions of this act.

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DEBT MANAGEMENT ACT (EXCERPT) Act 148 of 1975 451.417 Applicability of examination provisions. Sec. 7. Except as provided in this act, the examination provisions of this act shall not apply to the existing officers, directors, partners, or individual owners of currently licensed debt management businesses unless any of those persons cease to be engaged in the debt management business with their currently licensed firm. To reenter the business at a subsequent time, a person shall satisfy the examination provisions of this act.

Legislative History

1975, Act 148, Eff. Mar. 31, 1976 Compiler's Notes: For transfer of statutory authority, powers, duties, and functions of the corporations, securities and land development bureau to the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.