2010 Michigan Compiled Laws
Chapter 451 - SECURITIES, REAL ESTATE, AND DEBT MANAGEMENT
Act 551 of 2008 - UNIFORM SECURITIES ACT (2002) (451.2101 - 451.2703)
551-2008-5 - ARTICLE 5 FRAUD AND LIABILITIES (451.2501...451.2510)
Section 451.2503 - Civil action or administrative proceeding; burden of proof.
UNIFORM SECURITIES ACT (2002) (EXCERPT)Act 551 of 2008
451.2503 Civil action or administrative proceeding; burden of proof.
Sec. 503.
(1) In a civil action or administrative proceeding under this act, a person claiming an exemption, exception, preemption, or exclusion has the burden to prove the applicability of the exemption, exception, preemption, or exclusion.
(2) In a criminal proceeding under this act, a person claiming an exemption, exception, preemption, or exclusion has the burden of going forward with evidence of the claim.
History: 2008, Act 551, Eff. Oct. 1, 2009
Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
