MI SB0700

Authorizes the director of the department of energy, labor, and economic growth to investigate persons subject to securities laws, the business corporation act, or the franchise investment law for unlawful trade practices under the Michigan consumer protection act.

Requires the director to apply to the attorney general to obtain subpoena power for investigations, with the attorney general proceeding to procure subpoenas on the director's behalf.

Mandates the director provide a full investigation report to the attorney general upon conclusion of any investigation.

Updates references in the consumer protection act to include both the 1964 Uniform Securities Act and the 2002 Uniform Securities Act (adopted in 2008 PA 551).

Effective immediately upon the governor's approval on September 24, 2009.