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MI HB4685
Bill
Status
3/25/2009
Primary Sponsor
Daniel Scripps
Click for details
AI Summary
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Amends the definition of "goods or services" in the Home Solicitation Sales Act to exclude sales of securities subject to the Uniform Securities Act (2002), 2008 PA 551, MCL 451.2101 to 451.2703.
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Updates statutory references to include both the original Uniform Securities Act (1964 PA 265) and the new Uniform Securities Act (2002) to reflect Michigan's adoption of the updated securities law.
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Maintains existing exemptions for securities transactions from home solicitation sales regulations, ensuring consistency with Michigan's securities regulatory framework.
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Makes technical amendments to 1971 PA 227 (the Home Solicitation Sales Act) to clarify the scope of goods and services regulated under that statute.
Legislative Description
Trade; securities; adoption of new uniform securities act (2002); update uniform securities act references in home solicitation sales statute. Amends sec. 1 of 1971 PA 227 (MCL 445.111).
Trade, securities
Last Action
Referred To Committee On Banking And Financial Institutions
4/29/2009