Sec. 15.
The commission may temporarily suspend any of its orders when it appears to such commission that the terms of an order have been or are about to be violated but no such suspension order shall be effective for longer than 10 days unless the commission shall within such time serve notice upon the persons affected of the reason therefor, and shall grant a hearing thereon at a date not more than 15 days from the date of the suspension order. After such hearing the commission may either withdraw its suspension order or make the order of suspension a permanent order of revocation in accordance with the evidence.
History: 1933, Act 89, Imd. Eff. May 25, 1933 ;-- CL 1948, 451.315
Structure 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 451.308 - 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.