Change log

MI penalty: short label Michigan ($10,000 per violation civil + felony for fraud) → Michigan (felony for listed knowing violations, such as a materially false statement in a required filing: up to 5 years, a fine up to $20,000, or both, for each violation per MCL 400.293(2)); source quote replaced

MI penalty: source url https://www.legislature.mi.gov/documents/mcl/pdf/mcl-act-169-of-1975.pdf → https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-400-293; source cite MCL §400.290, §400.293 → MCL §400.293

MI penalty: description Michigan Attorney General can seek civil fines of up to $10,000 per violation against the organization, its officers, directors, shareholders, or controlling members per MCL §400.290. Knowing misrepresentation is a misdemeanor (6 months / $5,000 max) and fraudulent practices are a felony (5 years / $20,000 max) per MCL §400.293. AG also has emergency 48-hour suspension authority and may permanently revoke licenses after a hearing per MCL §400.291. → Civil fine of not more than $10,000.00 for each violation against a person subject to the act, or against officers, directors, shareholders, controlling members, or any other person that directly engaged in the act (MCL 400.290(1)). A person that willfully violates is guilty of a misdemeanor punishable by imprisonment for not more than 6 months or a fine of not more than $5,000.00, or both (MCL 400.293). Emergency 48-hour suspension is MCL 400.287a, not 400.291.; source url https://law.justia.com/codes/michigan/chapter-400/statute-act-169-of-1975/section-400-290/ → https://www.legislature.mi.gov/documents/mcl/pdf/mcl-act-169-of-1975.pdf; criminal scope organization → both; source quote replaced