Sec. 18.
The provisions of this act shall be liberally construed to the end that the purposes thereof may be accomplished by preventing fraud, deception and damage on holders or owners of securities. Should any section or clause of this act be declared invalid by any court of last resort having jurisdiction in the premises, then such decision shall affect only the section or clause so declared to be invalid and shall not affect any other section or clause of this act.
History: 1933, Act 89, Imd. Eff. May 25, 1933 ;-- CL 1948, 451.318
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.