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Michigan Compiled Laws Complete Through PA 85 and includes 95, 97 & 116 of 2014
House: Adjourned until Wednesday, April 23, 2014 1:30:00 PM
Senate: Adjourned until Wednesday, April 23, 2014 10:00:00 AM

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Section 451.2504

Act 551 of 2008

451.2504 Sales and advertising literature; filing.

Sec. 504.

(1) Subject to subsection (2), a rule or order under this act may require the filing of a prospectus, pamphlet, circular, form letter, advertisement, sales literature, or other advertising record relating to a security or investment advice addressed or intended for distribution to prospective investors, including clients or prospective clients of a person registered or required to be registered as an investment adviser under this act.

(2) This section does not apply to sales and advertising literature specified in subsection (1) relating to a federal covered security, a federal covered investment adviser, or a security or transaction exempted by section 201, 202, or 203 except as required under section 201(g) or 202(1)(x).

History: 2008, Act 551, Eff. Oct. 1, 2009 ;-- Am. 2013, Act 264, Imd. Eff. Dec. 30, 2013
Compiler's Notes: For transfer of securities division of office of finance and insurance regulation from office of finance and insurance regulation to department of licensing and regulatory affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.

© 2009 Legislative Council, State of Michigan