Michigan § 493.9g Violation of order; exceptions.

Michigan Statutes

§ 493.9g — Violation of order; exceptions.

Michigan § 493.9g

Ch. 493REGULATORY LOANS

Act 21 of 1939REGULATORY LOAN ACT (493.1-493.26)

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Bluebook

Mich. Comp. Laws § 493.9g (2026).

Text

REGULATORY LOAN ACT (EXCERPT) Act 21 of 1939 493.9g Violation of order; exceptions. Sec. 9g. A control person who is subject to an order issued under section 9c 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 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 to an unrelated third party.

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REGULATORY LOAN ACT (EXCERPT) Act 21 of 1939 493.9g Violation of order; exceptions. Sec. 9g. A control person who is subject to an order issued under section 9c 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 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 to an unrelated third party.