Michigan Compiled Laws 89-1986-8 Article 8 Certain Unlawful Activities (487.1801...487.1819)

• Section 487.1801 Definitions.
  (1) As used in this article, unless the context otherwise requires: (a) “Advisor”, means a person who regularly provides legal, accounting, or management services...
• Section 487.1803 Willful Untrue Statement Or Omission Of Material Fact In Application Or Report.
  A person shall not willfully make an untrue statement of a material fact in an application or report filed with the commissioner under this...
• Section 487.1805 Willful Refusal To Allow Inspection Or Making Copies Of Books, Accounts, And Other Records.
  A person having custody of any of the books, accounts, or other records of a licensee shall not willfully refuse to allow the commissioner,...
• Section 487.1807 Books, Accounts, Or Other Records; False Entries; Omission Of Required Entry; Alteration, Concealment, Or Destruction.
  A person shall not, with intent to deceive a director, officer, manager, employee, auditor, or attorney of a licensee, the commissioner, or a governmental...
• Section 487.1809 Financing Assistance To Associate Of Licensee.
  A licensee shall not provide, directly or indirectly, financing assistance to an associate of the licensee. History: 1986, Act 89, Imd. Eff. May 1,
• Section 487.1811 Financing Assistance To Discharge Obligation To Associate Of Licensee; Transactions To Which Section Inapplicable.
  A licensee shall not provide, directly or indirectly, financing assistance to discharge, or to free other money for use in discharging, in whole or...
• Section 487.1813 Financing Assistance To Business Firm To Which Associate Of Licensee Provides Financing Assistance; Applicability Of Section.
  (1) A licensee shall not provide, directly or indirectly, financing assistance to a business firm to which an associate of that licensee provides financing...
• Section 487.1815 Compensation Of Associate Of Licensee For Procuring Or Influencing Licensee's Action With Respect To Providing Financing Assistance; Section Inapplicable To Fees Received For Bona Fide Closing Services; Criteria.
  An associate of a licensee shall not receive, directly or indirectly, from a person to whom that licensee provides financing assistance, compensation in connection...
• Section 487.1817 Exemptions.
  (1) By such orders or rules the commissioner considers necessary and appropriate, the commissioner may exempt from sections 809 to 815, either unconditionally or...
• Section 487.1819 Violation Of Article; Penalty; Applicability Of Section; Power Of State To Punish Not Limited By Act.
  (1) A person who knowingly commits an act which act violates this article shall be fined not more than $10,000.00 or shall be imprisoned...

Last modified: October 10, 2016