2006 Michigan Compiled Laws - Mich. Comp. Laws § 554.824 Effect of application for registration being filed or becoming effective.

Sec. 24.

(1) The fact that an application for registration under this act has been filed or has become effective does not constitute a finding by the bureau that a document filed under the act is true, complete, or not misleading. That a registration has been filed or has become effective does not mean that the bureau has passed in any way upon the merits or qualifications of, or recommended or given approval to, a person, life interest, long-term lease, transaction, or facility.

(2) A person shall not make or cause to be made to a prospective member or offeree a representation inconsistent with this section.

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.