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MICHIGAN BIDCO ACT (EXCERPT)
Act 89 of 1986
TRANSACTION OF BUSINESS
|Section 487.1501||Section||Offices of licensee; number; location; posting sign bearing corporate name; personnel; establishing, relocating, or closing office.
|Section 487.1503||Section||Business of licensee; powers and privileges of licensee.
|Section 487.1505||Section||Forms, terms, and conditions of financing assistance; participation in program of small business administration; compliance; scope of management assistance; purpose of financing assistance or management assistance; exercise of incidental powers; extension of credit; interest; violation as felony; penalty; “interest” defined.
|Section 487.1507||Section||Holding control of business firm; order approving or denying application; “hold control” defined; plan for acquiring and holding control of business firm; demonstrating necessity to hold control of business firm.
|Section 487.1509||Section||Transacting business in safe and sound manner; considering risks; authority of commissioner not limited.
|Section 487.1511||Section||Definitions; transactions involving potential conflict of interest; authority of commissioner to determine conflict of interest not limited.
|Section 487.1513||Section||Lien on or security interest in property of licensee.