Loading chat...

MI HB4689

Bill

Official Source

Status

Introduced

3/25/2009

Primary Sponsor

Dave Hildenbrand

Click for details

Origin

House of Representatives

95th Legislature

AI Summary

  • Amends Section 19 of the Michigan Education Trust Act (1986 PA 316) to update securities law references
  • Exempts advance tuition payment contracts from both the 1964 Uniform Securities Act (MCL 451.501 to 451.818) and the 2002 Uniform Securities Act (2008 PA 551, MCL 451.2101 to 451.2703)
  • Prohibits purchasers or qualified beneficiaries from selling or transferring advance tuition payment contracts without prior approval from the trust
  • Changes statutory language from "shall be" to "is" in the exemption provision

Legislative Description

Trade; securities; adoption of new uniform securities act (2002); update uniform securities act references in Michigan education trust act. Amends sec. 19 of 1986 PA 316 (MCL 390.1439).

Higher education, tuition

Last Action

Referred To Committee On Banking And Financial Institutions

4/29/2009

Committee Referrals

Banking & Financial Institutions4/29/2009
Commerce3/25/2009

Full Bill Text

No bill text available