MCL - 89-1986-7

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Chapter 487
Act 89 of 1986
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MICHIGAN BIDCO ACT (EXCERPT)
Act 89 of 1986
Article 7
ENFORCEMENT
Document Type Description
Section 487.1701 Section Action to enjoin violation or enforce compliance; restraining order, preliminary or permanent injunction, or writ of mandamus; appointment of receiver or conservator; bond.
Section 487.1703 Section Violation of MCL 487.1311; cease and desist order; filing application for hearing on order; rescission of order; judicial review.
Section 487.1705 Section Cease and desist order; affirmative action to correct condition; application for hearing on order; affirming, modifying, or rescinding order; judicial review.
Section 487.1707 Section Order removing subject person from office and prohibiting further participation in business of licensee; notice and hearing; determinations; order suspending subject person from office and prohibiting further participation in business of licensee; application for hearing on order; affirming, modifying, or rescinding order; judicial review; “office” defined.
Section 487.1709 Section Crime involving dishonesty or breach of trust; order suspending subject person from office and prohibiting further participation in business of licensee; application for hearing on order; affirming, modifying, or rescinding order; judicial review; conviction not required; “office” defined.
Section 487.1711 Section Disclosure to owners.
Section 487.1713 Section Calling meeting of board of directors of licensee or of owners of licensee; notice; expenses.
Section 487.1715 Section Order directing licensee to refrain from providing additional financing assistance to business firms; notice and hearing; determinations; request for hearing; affirming, modifying, or rescinding order; resumption of financing assistance; application to modify or rescind order.
Section 487.1717 Section Appointment of conservator for licensee; reimbursement of expenses of conservatorship; powers and duties of conservator; liquidation of licensee; appointment of receiver; determinations; manner of liquidation.
Section 487.1719 Section Violation of act; amount and disposition of civil penalty; applicability of section; provisions cumulative; liability for certain violations.