Michigan Compiled Laws § 487.1513 Lien On Or Security Interest In Property Of Licensee.

487.1513 Lien on or security interest in property of licensee.

Sec. 513.

Except with the approval of the commissioner, a licensee shall not provide a lien on or security interest in any of its property for the purpose of securing an obligation of, or an obligation incurred for the benefit of, another person.

History: 1986, Act 89, Imd. Eff. May 1, 1986

Section: Previous  487.1501  487.1503  487.1505  487.1507  487.1509  487.1511  487.1513  

Last modified: October 10, 2016