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MICHIGAN BIDCO ACT (EXCERPT)
Act 89 of 1986
Article 5
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. |
