Section 451.2104 – Reference to Agency or Department.
451.2104 Reference to agency or department. Sec. 104. Any reference in this act to an agency or department of the United States is also a reference to any successor agency, department, or entity of that agency or department. History: 2008, Act 551, Eff. Oct. 1, 2009 Compiler’s Notes: For transfer of securities division of office […]
Section 451.2105 – Applicability of Act.
451.2105 Applicability of act. Sec. 105. This act modifies, limits, and supersedes the electronic signatures in global and national commerce act, but does not modify, limit, or supersede section 101(c) of that act, 15 USC 7001, or authorize electronic delivery of any of the notices described in section 103(b) of that act, 15 USC 7003. […]
Section 451.2201 – Securities Exempt From MCL 451.2301 to 451.2306 and MCL 451.2504.
451.2201 Securities exempt from MCL 451.2301 to 451.2306 and MCL 451.2504. Sec. 201. The following securities are exempt from the requirements of sections 301 to 306 and 504: (a) A security, including a revenue obligation or a separate security as defined in rule 131 adopted under the securities act of 1933, 17 CFR 230.131, issued, […]
Repealed – Act 157 of 1976 – Uniform Management of Institutional Funds Act (451.1201 – 451.1210)
UNIFORM MANAGEMENT OF INSTITUTIONAL FUNDS ACTAct 157 of 1976451.1201-451.1210 Repealed. 2009, Act 87, Imd. Eff. Sept. 10, 2009.
Section 451.2101 – Short Title.
451.2101 Short title. Sec. 101. This act shall be known and may be cited as the “uniform securities act (2002)”. History: 2008, Act 551, Eff. Oct. 1, 2009 Compiler’s Notes: For transfer of securities division of office of finance and insurance regulation from office of finance and insurance regulation to department of licensing and regulatory […]
Section 451.2102 – Definitions; a to G.
451.2102 Definitions; A to G. Sec. 102. As used in this act, unless the context otherwise requires: (a) “Administrator” means the office of financial and insurance regulation of the department of energy, labor, and economic growth. (b) “Agent” means an individual other than a broker-dealer who represents a broker-dealer in effecting or attempting to effect […]
Section 451.2102a – Definitions; I.
451.2102a Definitions; I. Sec. 102a. As used in this act, unless the context otherwise requires: (a) “Institutional investor” means any of the following, whether acting for itself or for others in a fiduciary capacity: (i) A depository institution or international banking institution. (ii) An insurance company. (iii) A separate account of an insurance company. (iv) […]
Section 451.2102b – Definitions; N to R.
451.2102b Definitions; N to R. Sec. 102b. As used in this act, unless the context otherwise requires: (a) “Nonissuer transaction” or “nonissuer distribution” means a transaction or distribution not directly or indirectly for the benefit of the issuer. (b) “Offer to purchase” includes an attempt or offer to obtain, or solicitation of an offer to […]
Section 451.2102c – Definitions; S.
451.2102c Definitions; S. Sec. 102c. As used in this act, unless the context otherwise requires: (a) “Sale” includes every contract of sale, contract to sell, or disposition of, a security or interest in a security for value, and “offer to sell” includes every attempt or offer to dispose of, or solicitation of an offer to […]
Section 451.922 – Definitions.
451.922 Definitions. Sec. 2. As used in this act: (a) “Charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose the achievement of which is beneficial to the community. (b) “Endowment fund” means an institutional fund or part […]