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Michigan Compiled Laws, Chapter 493. Regulatory Loans § 493.64e

Current as of January 01, 2025 | Updated by Findlaw Staff

Sec. 14e. A control person who is subject to an order issued under section 14a  1 and who meets all of the following requirements is not in violation of the order:

(a) The control person shall not in any manner, directly or indirectly, participate in the control of a licensee or registrant after the date the order is issued.

(b) The control person shall within 6 months after the date the order is final transfer any interest the control person owns in a licensee or registrant to an unrelated third party.

1 M.C.L.A. § 493.64a.
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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 493. Regulatory Loans § 493.64e - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-493-regulatory-loans/mi-comp-laws-493-64e/

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