Michigan Laws 445.920 – Investigation of certain persons by director of department of energy, labor, and economic growth; subpoena; report
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 445.920
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: means an individual, corporation, limited liability company, trust, partnership, incorporated or unincorporated association, or other legal entity. See Michigan Laws 445.902
- Subpoena: A command to a witness to appear and give testimony.
(1) The director of the department of energy, labor, and economic growth may investigate, in the manner set forth in section 7, a person subject to the uniform securities act, 1964 PA 265, MCL 451.501 to 451.818; the uniform securities act (2002), 2008 PA 551, MCL 451.2101 to 451.2703; the business corporation act, 1972 PA 284, MCL 450.1101 to 450.2098; or the franchise investment law, 1974 PA 269, MCL 445.1501 to 445.1546, who the director believes has engaged, is engaging, or is about to engage in a method, act, or practice which is unlawful under this act.
(2) When the director requires the use of the subpoena power provided in this act, an application shall be made to the attorney general, who shall proceed to procure a subpoena on behalf of the director in accordance with section 7.
(3) Upon conclusion of an investigation, the director shall provide a full report to the attorney general.