Michigan Compiled Laws
Act 89 of 1933 - Protective Committees (451.302 - 451.319)
Section 451.312 - Public Trust Commission; Subpoenas, Oaths, Records.

Sec. 12.
The said commission is authorized and empowered to issue subpoenas to compel the attendance of witnesses and to compel the production of books, records and documents in connection with any investigation, hearing, or other matter pending before the board, to issue process to compel such attendance and production. Each member shall be authorized to swear witnesses and administer oaths in any matter coming before him or the commission. The commission shall keep records of its hearings, meetings and other activities. Any witness who refuses to obey a subpoena or who refuses to be sworn or testify, or who fails to produce any papers, books or documents touching any matter under investigation, or any witness, party or attorney who is guilty of any contempt while in attendance at any hearing held under this act may be punished as for contempt of court; and for this purpose an application may be made to any circuit court within whose territorial jurisdiction the offense is committed, and for which purpose the court is hereby given jurisdiction.
History: 1933, Act 89, Imd. Eff. May 25, 1933 ;-- CL 1948, 451.312

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 451 - Securities, Real Estate, and Debt Management

Act 89 of 1933 - Protective Committees (451.302 - 451.319)

Section 451.302 - Protective Committees, Depositaries and Solicitors; Definitions.

Section 451.303 - Protective Committees, Depositaries and Solicitors; License Applications, Fees, Hearing, Bonds; Inactive Committee or Depositary; Names, Inspection.

Section 451.304 - Protective Committees, Depositaries and Solicitors; Licenses, Non-Resident Applicants, Filing; Service of Process.

Section 451.305 - Protective Committees, Depositaries and Solicitors; Licenses, Suspension or Revocation.

Section 451.306 - Protective Committees; Statement, Contents; Application to Solicit Security Holders.

Section 451.307 - Protective Committees; Solicitation of Security Holders; Fraud, Conditions, Limitation of Charges.

Section 451.308 - Protective Committees; Notice to Issuer of Security, Objections, Hearing.

Section 451.309 - Protective Committees; Records and Reports.

Section 451.310 - Protective Committees; Authority to Take Action.

Section 451.311 - Public Trust Commission; Investigations, Audits and Appraisals.

Section 451.312 - Public Trust Commission; Subpoenas, Oaths, Records.

Section 451.313 - Public Trust Commission; Investigations; Costs; Audits and Appraisals.

Section 451.315 - Public Trust Commission; Suspension of Orders, Grounds, Procedure.

Section 451.316 - Aggrieved Parties; Action in Circuit Court.

Section 451.317 - Fiduciary's Relation to Security Holders; Reports of Purchases.

Section 451.318 - Construction of Act; Severing Clause.

Section 451.318a - Bonds; Exception From Act; Securities Exempt From Blue Sky Law and Mortgage Tax Act.

Section 451.319 - Violation of Act; Penalty.