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MI HB4693
Bill
Status
3/25/2009
Primary Sponsor
Martin Griffin
Click for details
AI Summary
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Transfers authority to investigate consumer protection violations from the Department of Commerce to the Department of Labor and Economic Growth.
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Expands the director's investigative jurisdiction to include persons subject to the Uniform Securities Act (1964 PA 265), the Uniform Securities Act (2002), the Business Corporation Act (1972 PA 284), and the Franchise Investment Law (1974 PA 269).
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Removes outdated references to specific public acts and replaces them with current Michigan Compiled Law citations for the securities and business acts under the director's oversight.
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Requires the director to apply to the Attorney General to obtain subpoena power when needed during investigations.
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Mandates the director provide a full investigation report to the Attorney General upon conclusion of any investigation.
Legislative Description
Trade; securities; adoption of new uniform securities act (2002); update uniform securities act references in Michigan consumer protection act. Amends sec. 20 of 1976 PA 331 (MCL 445.920).
Consumer protection, privacy
Last Action
Referred To Committee On Banking And Financial Institutions
4/30/2009