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2023 Michigan Compiled Laws
Chapter 451 - Securities, Real Estate, and Debt Management
Act 551 of 2008 - Uniform Securities Act (2002) (451.2101 - 451.2703)
***** Act 551 of 2008 THIS TITLE, BEGINNING WITH THE FIRST INSTANCE OF "AN ACT", IS AMENDED EFFECTIVE MARCH 13, 2024, : THIS AMENDED TITLE, BEGINNING WITH THE SECOND INSTANCE OF "AN ACT", IS EFFECTIVE MARCH 13, 2024 *****
AN ACT to enact the uniform securities act (2002) relating to the issuance, offer, sale, or purchase of securities; to prohibit fraudulent practices in relation to securities; to establish civil and criminal sanctions for violations of the act and civil sanctions for violation of the rules promulgated pursuant to the act; to require the registration of broker-dealers, agents, investment advisers, and securities; to regulate Michigan investment markets; to make uniform the law with reference to securities; and to repeal acts and parts of acts. AN ACT to enact the uniform securities act (2002) relating to the issuance, offer, sale, or purchase of securities; to prohibit fraudulent practices in relation to securities; to establish civil and criminal sanctions for violations of the act and civil sanctions for violation of the rules promulgated under the act; to require the registration of broker-dealers, agents, investment advisers, and securities; to regulate Michigan investment markets; to make uniform the law with reference to securities; to authorize actions to protect individuals from financial exploitation; to prescribe the powers and duties of state governmental officers and agencies; and to repeal acts and parts of acts.History: 2008, Act 551, Eff. Oct. 1, 2009 ;-- Am. 2014, Act 355, Imd. Eff. Oct. 21, 2014 ;-- Am. 2023, Act 306, Eff. Mar. 13, 2024
Compiler's Notes: Enacting section 1 of Act 355 of 2014 provides:"Enacting section 1. It is the intent of the legislature by enacting this amendatory act to regulate a class of intrastate broker-dealers that is exempt under section 15(a)(1) of the securities exchange act of 1934, 15 USC 78o, and that will facilitate intrastate securities transactions among persons of this state."
- Article 1 - General Provisions (451.2101...451.2105)
- Article 2 - Exemptions From Registration of Securities (451.2201...451.2204)
- Article 3 - Registration of Securities and Notice Filings of Federal Covered Securities (451.2301...451.2307)
- Article 4 - Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers (451.2401...451.2413)
- Article 4A - Michigan Investment Markets (451.2451...451.2469)
- Article 5 - Fraud and Liabilities (451.2501...451.2510)
- Article 5A - Financial Exploitation (451.2531.added...451.2543.added)
- Article 6 - Administration and Judicial Review (451.2601...451.2612)
- Article 7 - Transition (451.2701...451.2703)
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