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Code · Michigan · Chapter 445 — Trade and Commerce

445.1668e Violation of order; exceptions.

106 words·~1 min read·/mi/chapter-445/445-1668e

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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.
History: Add. 2002, Act 391 , Imd. Eff. May 30, 2002
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