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Violation of order; exceptions.

MCL 487.2060k
in effect
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487.2060k. Violation of order; exceptions. Sec. 10k. A control person who is subject to an order issued under section 10g(6) 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 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 to an unrelated third party. Add. 2002, Act 390, Imd. Eff. May 30, 2002
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-487-2060kFetched: 10/20/2026

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