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MI SB0710
Bill
AI Summary
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Amends the definition of "credit services organization" exemptions under the Credit Services Protection Act to reference both the 1964 Uniform Securities Act and the 2002 Uniform Securities Act.
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Adds registered investment advisers and broker-dealers under the 2008 PA 551 (Uniform Securities Act 2002) to the list of entities excluded from credit services organization regulations.
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Updates statutory cross-references from MCL 451.501 to 451.818 (1964 Act) to also include MCL 451.2101 to 451.2703 (2002 Act).
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Effective immediately upon approval by the Governor on September 24, 2009.
Legislative Description
Trade; securities; adoption of new uniform securities act (2002); update uniform securities act references in credit services protection act. Amends sec. 2 of 1994 PA 160 (MCL 445.1822).
Consumer credit, other
Last Action
Assigned Pa 0097'09 With Immediate Effect
9/25/2009