reglab/housing_qa huggingface dataset:
MI Comp L § 450.5009 (2021)
2021 Michigan Compiled Laws|Chapter 450 - Corporations|Act 23 of 1993 - Michigan Limited Liability Company Act (450.4101 - 450.5200)|Article 10 - (450.5001...450.5010)|Section 450.5009 - Making or Purchasing Loans or Participation or Interest in Loans.

450.5009 Making or purchasing loans or participation or interest in loans. Sec. 1009.  (1) A foreign limited liability company may acquire or, through another person entitled to transact business in this state, may make loans, or participations or interests in loans, insured or guaranteed in whole or in part by the federal housing administration or the veterans' administration or a successor or similar agency of the federal government, which are secured in whole or in part by mortgages of real property located in this state, and a foreign limited liability company may purchase a loan, or participation or interest in a loan, secured in whole or in part by a mortgage of real property located in this state, without maintaining authority to transact business in this state under this act or any other law of this state relating to the qualification or authority and without paying fees as required by law.  (2) Neither the failure of a foreign limited liability company to qualify or maintain authority to transact business in this state under this act or any other law of this state nor its failure to pay fees as required by law affects or impairs its ownership of the loans or participation or interests in the loans, whether made or acquired, or its right to collect and service the loans through another person entitled to transact business in this state, or its right to enforce the loans or to acquire, hold, protect, convey, lease, and otherwise contract and deal with respect to the property mortgaged as security. History: 1993, Act 23, Eff. June 1, 1993
MI Comp L § 450.5010 (2021)
2021 Michigan Compiled Laws|Chapter 450 - Corporations|Act 23 of 1993 - Michigan Limited Liability Company Act (450.4101 - 450.5200)|Article 10 - (450.5001...450.5010)|Section 450.5010 - Maintaining Action to Restrain by Attorney General.

450.5010 Maintaining action to restrain by attorney general. Sec. 1010.  The attorney general may maintain an action to restrain a foreign limited liability company transacting business in this state, with or without a certificate of authority, from any violation of this act. History: 1993, Act 23, Eff. June 1, 1993
MI Comp L § 450.5102 (2021)
2021 Michigan Compiled Laws|Chapter 450 - Corporations|Act 23 of 1993 - Michigan Limited Liability Company Act (450.4101 - 450.5200)|Article 11 - (450.5101...450.5200)|Section 450.5102 - Effect of Actions by Legislature.

450.5102 Effect of actions by legislature. Sec. 1102.  This act may be supplemented, altered, amended, or repealed by the legislature, and every limited liability company subject to this act is bound by the changes. History: 1993, Act 23, Eff. June 1, 1993
MI Comp L § 450.5103 (2021)
2021 Michigan Compiled Laws|Chapter 450 - Corporations|Act 23 of 1993 - Michigan Limited Liability Company Act (450.4101 - 450.5200)|Article 11 - (450.5101...450.5200)|Section 450.5103 - Interest as Security.

450.5103 Interest as security. Sec. 1103.  An interest in a limited liability company to which this act applies is a security to the same extent as an interest in a corporation, partnership, or limited partnership is a security. History: 1993, Act 23, Eff. June 1, 1993
MI Comp L § 450.5200 (2021)
2021 Michigan Compiled Laws|Chapter 450 - Corporations|Act 23 of 1993 - Michigan Limited Liability Company Act (450.4101 - 450.5200)|Article 11 - (450.5101...450.5200)|Section 450.5200 - Effective Date.

450.5200 Effective date. Sec. 1200.  This act shall take effect June 1, 1993. History: 1993, Act 23, Eff. June 1, 1993
MI Comp L § 451.2101 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 551 of 2008 - Uniform Securities Act (2002) (451.2101 - 451.2703)|Article 1 - General Provisions (451.2101...451.2105)|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 affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.
MI Comp L § 451.2102b (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 551 of 2008 - Uniform Securities Act (2002) (451.2101 - 451.2703)|Article 1 - General Provisions (451.2101...451.2105)|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 sell, a security or interest in a security for value. The term does not include a tender offer that is subject to section 14(d) of title I of the securities exchange act of 1934, 15 USC 78n.  (c) "Person" means an individual, corporation, business trust, estate, trust, partnership, limited liability company, limited liability partnership, association, joint venture, or government; a governmental subdivision, agency, or instrumentality; a public corporation; or any other legal or commercial entity.  (d) "Place of business" of a broker-dealer, an investment adviser, or a federal covered investment adviser means any of the following:  (i) An office at which the broker-dealer, investment adviser, or federal covered investment adviser regularly provides brokerage or investment advice, or solicits, meets with, or otherwise communicates with customers or clients.  (ii) Any other location that is held out to the general public as a location at which the broker-dealer, investment adviser, or federal covered investment adviser provides brokerage or investment advice, or solicits, meets with, or otherwise communicates with customers or clients.  (e) "Predecessor act" means former 1964 PA 265.  (f) "Price amendment" means the amendment to a registration statement filed under the securities act of 1933 or, if an amendment is not filed, the prospectus or prospectus supplement filed under the securities act of 1933 that includes a statement of the offering price, underwriting and selling discounts or commissions, amount of proceeds, conversion rates, call prices, and other matters dependent upon the offering price.  (g) "Principal place of business" of a broker-dealer or an investment adviser means the executive office of the broker-dealer or investment adviser from which the officers, partners, or managers of the broker-dealer or investment adviser direct, control, and coordinate the activities of the broker-dealer or investment adviser.  (h) "Record," except in the phrases "of record," "official record," and "public record," means information that is inscribed on a tangible medium or that is stored in an electronic or other medium and is retrievable in perceivable form. 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 affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.
MI Comp L § 451.2103 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 551 of 2008 - Uniform Securities Act (2002) (451.2101 - 451.2703)|Article 1 - General Provisions (451.2101...451.2105)|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 retirement income security act of 1974" means the employee retirement income security act of 1974, Public Law 93-406.  (d) "Internal revenue code" means the internal revenue code of 1986, 26 USC 1 to 9833.  (e) "Investment advisers act of 1940" means the investment advisers act of 1940, 15 USC 80b-1 to 80b-21.  (f) "Investment company act of 1940" means the investment company act of 1940, 15 USC 80a-1 to 80a-64.  (g) "National housing act" means the national housing act, 12 USC 1701 to 1750g.  (h) "Public utility holding company act of 1935" means the public utility holding company act of 1935, 15 USC 79 to 79z-6.  (i) "Securities act of 1933" means the securities act of 1933, 15 USC 77a to 77aa.  (j) "Securities exchange act of 1934" means the securities exchange act of 1934, 15 USC 78a to 78nn.  (k) "Securities investor protection act of 1970" means the securities investor protection act of 1970, 15 USC 78aaa to 78lll.  (l) "Securities litigation uniform standards act of 1998" means the securities litigation uniform standards act of 1998, Public Law 105-353, 112 Stat. 3227.  (m) "Small business investment act of 1958" means the small business investment act of 1958, Public Law 85-699.  (2) A reference in this act to a federal statute defined in subsection (1) includes that statute and the rules and regulations adopted under that statute. The administrator may, by rule or order, adopt an amendment or successor to a federal statute defined in subsection (1) or rules and regulations adopted under a federal statute defined in subsection (1), a federal statute that is similar to a federal statute defined in subsection (1), or a rule or regulation that is similar to a rule or regulation adopted under a federal statute defined in subsection (1). 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 affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.
MI Comp L § 451.2104 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 551 of 2008 - Uniform Securities Act (2002) (451.2101 - 451.2703)|Article 1 - General Provisions (451.2101...451.2105)|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 of finance and insurance regulation from office of finance and insurance regulation to department of licensing and regulatory affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.
MI Comp L § 451.2105 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 551 of 2008 - Uniform Securities Act (2002) (451.2101 - 451.2703)|Article 1 - General Provisions (451.2101...451.2105)|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. This act authorizes the filing of records and signatures, when specified by provisions of this act or by a rule or order under this act, in a manner consistent with section 104(a) of that act, 15 USC 7004. 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 affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.
MI Comp L § 451.2203 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 551 of 2008 - Uniform Securities Act (2002) (451.2101 - 451.2703)|Article 2 - Exemptions From Registration of Securities (451.2201...451.2204)|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 a rule or order under this act may waive any or all of the conditions for an exemption or offers under sections 201 and 202. 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 affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.
MI Comp L § 451.2204 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 551 of 2008 - Uniform Securities Act (2002) (451.2101 - 451.2703)|Article 2 - Exemptions From Registration of Securities (451.2201...451.2204)|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) or 202 or an exemption or waiver created under section 203 with respect to a specific security, transaction, or offer. An order under this section may only be issued pursuant to the procedures in section 306(4) or 604.  (2) A person does not violate section 301, 303 to 306, 504, or 510 by an offer to sell, an offer to purchase, a sale, or a purchase effected after the entry of an order issued under this section if the person did not know, and in the exercise of reasonable care could not have known, of the order. 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 affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.
MI Comp L § 451.2301 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 551 of 2008 - Uniform Securities Act (2002) (451.2101 - 451.2703)|Article 3 - Registration of Securities and Notice Filings of Federal Covered Securities (451.2301...451.2307)|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 security is registered under this act. 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 affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.
MI Comp L § 451.2307 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 551 of 2008 - Uniform Securities Act (2002) (451.2101 - 451.2703)|Article 3 - Registration of Securities and Notice Filings of Federal Covered Securities (451.2301...451.2307)|Section 451.2307 - Waiver or Modification of Requirements of MCL 451.2302, 451.2303, and 451.2304(2), or Certain Requirements of MCL 451.2305(9).

451.2307 Waiver or modification of requirements of MCL 451.2302, 451.2303, and 451.2304(2), or certain requirements of MCL 451.2305(9).Sec. 307.  The administrator may waive or modify, in whole or in part, any or all of the requirements of sections 302, 303, and 304(2) or the requirement of any information or record in a registration statement or in a periodic report filed pursuant to section 305(9). 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 affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.
MI Comp L § 451.2405 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 551 of 2008 - Uniform Securities Act (2002) (451.2101 - 451.2703)|Article 4 - Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers (451.2401...451.2413)|Section 451.2405 - Federal Covered Investment Adviser; Filing Requirements; Exceptions; Notice; Effectiveness of Filing.

451.2405 Federal covered investment adviser; filing requirements; exceptions; notice; effectiveness of filing.Sec. 405.  (1) Except with respect to a federal covered investment adviser described in subsection (2), a federal covered investment adviser shall not transact business in this state as a federal covered investment adviser unless the federal covered investment adviser complies with subsection (3).  (2) The following federal covered investment advisers are not required to comply with subsection (3):  (a) A federal covered investment adviser without a place of business in this state if its only clients in this state are any of the following:  (i) Federal covered investment advisers, investment advisers registered under this act, and broker-dealers registered under this act.  (ii) Institutional investors.  (iii) Bona fide preexisting clients whose principal places of residence are not in this state.  (iv) Other clients specified by rule or order under this act.  (b) A federal covered investment adviser that does not have a place of business in this state if the federal covered investment adviser has had, during the preceding 12 months, not more than 5 clients that are residents of this state in addition to those specified under subdivision (a).  (c) Any other person excluded by rule or order under this act.  (3) A person acting as a federal covered investment adviser, not excluded under subsection (2), shall file a notice, a consent to service of process complying with section 611, and those records that have been filed with the securities and exchange commission under the investment advisers act of 1940 that are required by rule or order under this act and pay the fees specified in section 410(5).  (4) A notice under subsection (3) is effective on filing. 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 affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.
MI Comp L § 451.2406 (2021)
2021 Michigan Compiled Laws|Chapter 451 - Securities, Real Estate, and Debt Management|Act 551 of 2008 - Uniform Securities Act (2002) (451.2101 - 451.2703)|Article 4 - Broker-Dealers, Agents, Investment Advisers, Investment Adviser Representatives, and Federal Covered Investment Advisers (451.2401...451.2413)|Section 451.2406 - Registration by Broker-Dealer, Agent, Investment Adviser, or Investment Adviser Representative; Application; Fee; Correcting Amendment; Effectiveness of Registration; Renewal; Other Conditions or Waivers.

451.2406 Registration by broker-dealer, agent, investment adviser, or investment adviser representative; application; fee; correcting amendment; effectiveness of registration; renewal; other conditions or waivers.Sec. 406.  (1) A person shall register as a broker-dealer, agent, investment adviser, or investment adviser representative by filing an application and a consent to service of process complying with section 611 and paying the fee specified in section 410 and any reasonable fees charged by the designee of the administrator for processing the filing. Each application must contain both of the following:  (a) The information or record required for the filing of a uniform application.  (b) If requested by the administrator, any other financial or other information or record that the administrator determines is appropriate.  (2) If the information or record contained in an application that is filed under subsection (1) is or becomes inaccurate or incomplete in any material respect, the registrant shall promptly file a correcting amendment.  (3) If an order is not in effect and no proceeding is pending under section 412, registration becomes effective at 12 noon on the forty-fifth day after a completed application is filed unless the registration is denied. A rule or order under this act may set an earlier effective date or may defer the effective date until 12 noon on the forty-fifth day after the filing of any amendment completing the application.  (4) A registration is effective until 12 midnight on December 31 of the year for which the application for registration is filed. Unless an order is in effect under section 412, a registration may be automatically renewed each year by filing the records required by rule or order under this act and paying the fee specified in section 410 and the costs charged by the designee of the administrator for processing the filings.  (5) A rule or order under this act may impose other conditions not inconsistent with the national securities markets improvement act of 1996, Public Law 104-290, or an order under this act may waive, in whole or in part, specific requirements in connection with registration if the imposition or waiver is appropriate in the public interest and for the protection of investors. 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 affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.