2006 Michigan Compiled Laws - Mich. Comp. Laws § 554.818 Notifying applicant of stop order; hearing; vacating or modifying stop order.

Sec. 18.

(1) Upon the entry of a notice of intent to issue a stop order, the bureau shall promptly notify the applicant by registered or certified mail that it has been entered, the reasons for the stop order, and that, upon receipt of written request, the matter will be set down for hearing to commence within 45 days after the receipt unless the applicant consents to a later date. If a hearing is not requested within 15 days and none is ordered by the bureau, a stop order shall issue and remain in effect until it is modified or vacated by the bureau. If a hearing is requested or ordered, the bureau, after notice and hearing, may enter a stop order or modify or vacate the order or extend it until its final determination.

(2) The bureau may vacate or modify a stop order if it finds that the conditions which caused its entry have changed or that it is otherwise in the public interest to do so.

History: 1976, Act 440, Eff. July 1, 1977
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 § 445.2003 of the Michigan compiled laws.