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Michigan Legislature
Michigan Compiled Laws Complete Through PA 47 of 2019
House: Adjourned until Tuesday, September 17, 2019 1:30:00 PM
Senate: Adjourned until Tuesday, September 17, 2019 10:00:00 AM

Michigan Legislature

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Section 432.226

Initiated Law 1 of 1996

432.226 Ownership and disclosure threshold.

Sec. 26.

   For purposes of sections 5, 6, and 7a, the ownership and disclosure threshold as to any company whose stock is widely held, publicly traded, and regulated by the securities and exchange commission shall be beneficial ownership of more than a 5% interest in the company, provided, however, the board shall have the authority, by rule or order, to establish a reporting threshold below 5% if the company knew or should have known the identity of the person holding the interest below 5%.

History: Add. 1997, Act 69, Imd. Eff. July 17, 1997
Popular Name: Proposal E

© 2017 Legislative Council, State of Michigan

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