There is a newer version of the Michigan Compiled Laws
2014 Michigan Compiled Laws
Chapter 487 - FINANCIAL INSTITUTIONS
Act 89 of 1986 MICHIGAN BIDCO ACT (487.1101 - 487.2001)
89-1986-5 ARTICLE 5 TRANSACTION OF BUSINESS (487.1501...487.1513)
- Section 487.1501 Offices of licensee; number; location; posting sign bearing corporate name; personnel; establishing, relocating, or closing office.
- Section 487.1503 Business of licensee; powers and privileges of licensee.
- Section 487.1505 Forms, terms, and conditions of financing assistance; participation in program of small business administration; compliance; scope of management assistance; purpose of financing assistance or management assistance; exercise of incidental powers; extension of credit; interest; violation as felony; penalty; “interest” defined.
- Section 487.1507 Holding control of business firm; order approving or denying application; “hold control” defined; plan for acquiring and holding control of business firm; demonstrating necessity to hold control of business firm.
- Section 487.1509 Transacting business in safe and sound manner; considering risks; authority of commissioner not limited.
- Section 487.1511 Definitions; transactions involving potential conflict of interest; authority of commissioner to determine conflict of interest not limited.
- Section 487.1513 Lien on or security interest in property of licensee.
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