Michigan Compiled Laws 551-2008-4a Article 4a Michigan Investment Markets (451.2451...451.2469)

• Section 451.2451 Definitions.
  As used in this article: (a) "Intrastate offering exemption" means the exemption described in section 202a or any other exemption from federal securities regulation...
• Section 451.2453 Transaction Of Business As Michigan Investment Market; Registration Required.
  Beginning May 1, 2015, a person shall not transact business in this state as a Michigan investment market unless the person is registered under...
• Section 451.2455 Michigan Investment Market; Registration Requirements.
  (1) A person shall register as a Michigan investment market by filing a written application, filing a consent to service of process that complies...
• Section 451.2457 Filing Fees.
  (1) A person shall pay a fee of $500.00 when initially filing an application for registration as a Michigan investment market and a fee...
• Section 451.2459 Records; Examination Or Inspection; Report.
  (1) A Michigan investment market that is registered or is required to register under this article must make a written or electronic record of...
• Section 451.2461 Registration Application; Notice Of Filing; Duties Of Administrator; Factors To Be Considered; Order; Sanctions; Discipline; Proceeding.
  (1) When the administrator receives an application for registration as a Michigan investment market, the administrator shall publish notice of the filing on a...
• Section 451.2463 Servicing; Requirements.
  (1) A Michigan investment market may not service a business if the business has already utilized the services of a portal, market, or exchange...
• Section 451.2465 Prohibited Conduct.
  (1) A Michigan investment market shall not do any of the following: (a) Sell or otherwise distribute to any third party personal identifying information...
• Section 451.2467 Individual Shown To Be Out-of-state Resident; Prima Facie Evidence Of Residency.
  (1) An individual's participation in a Michigan investment market in this state is considered a representation that he or she is a resident of...
• Section 451.2469 Rules; Compliance With State Or Federal Statute, Rule, Or Regulation.
  (1) The department may promulgate any rules that the administrator considers necessary to administer this article if those rules are consistent with the provisions...

Last modified: October 10, 2016