451.2506 Misrepresentations concerning registration or exemption.
182 words·~1 min read·
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451.2506 Misrepresentations concerning registration or exemption.
Sec. 506.
The filing of an application for registration, a registration statement, a notice filing under this act, or the registration of a person, the notice filing by a person, or the registration of a security under this act does not constitute a finding by the administrator that a record filed under this act is true, complete, and not misleading. The filing or registration or the availability of an exemption, exception, preemption, or exclusion for a security or a transaction does not mean that the administrator has passed upon the merits or qualifications of, or recommended or given approval to, a person, security, or transaction.
A person shall not make or cause to be made to a purchaser, customer, client, or prospective customer or client a representation inconsistent with this section.
History: 2008, Act 551 , Eff. Oct. 1, 2009
Compiler's Notes: For transfer of securities division of office of finance and insurance regulation from office of finance and insurance regulation to department of licensing and regulatory affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.