Section 451.2202a – Offer or Sale of Security by Issuer; Exemption From MCL 451.2301 to 451.2306 and 451.2504; Requirements; Adjustment; Report; Limitations; Rules; Filing Fee; Website; Violation; “Controlling Person” Defined; Exemption as “Michigan Invests Locally exemption.”
451.2202a Offer or sale of security by issuer; exemption from MCL 451.2301 to 451.2306 and 451.2504; requirements; adjustment; report; limitations; rules; filing fee; website; violation; “controlling person” defined; exemption as “Michigan invests locally exemption.” Sec. 202a. (1) Except as otherwise provided in this act, an offer or sale of a security by an issuer is […]
Section 451.2203 – Rule or Order; Exemptions and Waivers.
451.2203 Rule or order; exemptions and waivers. Sec. 203. A rule or order under this act may exempt a security, transaction, or offer, or a rule or order under this act may exempt a class of securities, transactions, or offers, from any or all of the requirements of sections 301 to 306 and 504, and […]
Section 451.2204 – Denial, Suspension, Revocation, Condition, or Limitation of Exemption.
451.2204 Denial, suspension, revocation, condition, or limitation of exemption. Sec. 204. (1) Except with respect to a federal covered security or a transaction involving a federal covered security, an order of the administrator under this act may deny or suspend application of, condition, limit, or revoke an exemption created under section 201(c)(iii), (g), or (h) […]
Section 451.2301 – Offer or Sale of Security; Requirements.
451.2301 Offer or sale of security; requirements. Sec. 301. A person shall not offer or sell a security in this state unless 1 or more of the following are met: (a) The security is a federal covered security. (b) The security, transaction, or offer is exempted from registration under sections 201 to 203. (c) The […]
Section 451.2302 – Notice Filing.
451.2302 Notice filing. Sec. 302. (1) A rule or order under this act may require the filing of 1 or more of the following records with respect to a security issued by an investment company that is a federal covered security as defined in section 18(b)(2) of the securities act of 1933, 15 USC 77r, […]
Section 451.2303 – Securities Registration by Coordination.
451.2303 Securities registration by coordination. Sec. 303. (1) A security for which a registration statement has been filed under the securities act of 1933 in connection with the same offering may be registered by coordination under this section. (2) A registration statement and accompanying records under this section must contain or be accompanied by all […]
Section 451.2304 – Securities Registration by Qualification.
451.2304 Securities registration by qualification. Sec. 304. (1) A security may be registered by qualification under this section. (2) A registration statement under this section must contain the information or records specified in section 305, a consent to service of process complying with section 611, and, if provided by rule under this act, all of […]
Section 451.2305 – Registration Statement; Persons Permitted to File; Filing Fee; Information; Incorporation by Reference; Nonissuer Distribution; Deposit of Security in Escrow; Impoundment of Proceeds; Conditions; Form of Subscription or Sale Contract; Duration of Registration Statement; Reports; Posteffective Amendments.
451.2305 Registration statement; persons permitted to file; filing fee; information; incorporation by reference; nonissuer distribution; deposit of security in escrow; impoundment of proceeds; conditions; form of subscription or sale contract; duration of registration statement; reports; posteffective amendments. Sec. 305. (1) A registration statement may be filed by the issuer, a person on whose behalf the […]
Section 451.2306 – Denying, Suspending, or Revoking Effectiveness; Stop Order; Publication of Guidelines, Rules, or Orders; Conditions Prohibiting Issuance of Stop Order; Summary Revocation, Denial, Postponement, or Suspension of Effectiveness; Modifying or Vacating Stop Order.
451.2306 Denying, suspending, or revoking effectiveness; stop order; publication of guidelines, rules, or orders; conditions prohibiting issuance of stop order; summary revocation, denial, postponement, or suspension of effectiveness; modifying or vacating stop order. Sec. 306. (1) The administrator may issue a stop order denying effectiveness to, or suspending or revoking the effectiveness of, a registration […]
Section 451.2103 – Additional Definitions.
451.2103 Additional definitions. Sec. 103. (1) Subject to subsection (2), as used in this act: (a) “Commodity exchange act” means the commodity exchange act, 7 USC 1 to 27f. (b) “Electronic signatures in global and national commerce act” means the electronic signatures in global and national commerce act, 15 USC 7001 to 7031. (c) “Employee […]