Sec. 24.
(1) A licensee who violates a provision of this act is guilty of a felony and shall be fined not more than $5,000.00, or imprisoned not more than 2 years, or both.
(2) A person who violates an injunction or a cease and desist order issued pursuant to this act shall be guilty of criminal contempt. For the purpose of this act the court issuing an injunction shall retain jurisdiction, and the cause shall be continued, and in those cases the attorney general acting in the name of the state may seek appropriate remedies.
History: 1975, Act 148, Eff. Mar. 31, 1976 Compiler's Notes: For transfer of statutory authority, powers, duties, and functions of the corporations, securities and land development bureau to the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
Structure Michigan Compiled Laws
Chapter 451 - Securities, Real Estate, and Debt Management
Act 148 of 1975 - Debt Management Act (451.411 - 451.437)
Section 451.411 - Short Title.
Section 451.412 - Definitions.
Section 451.417 - Applicability of Examination Provisions.
Section 451.420 - Rules; Rights, Remedies, and Procedures.
Section 451.421 - License; Applicable Provisions.
Section 451.422 - Budget Analysis.
Section 451.423 - Initial Fee; Consent of Creditor; Presumption.
Section 451.424 - Contract Between Licensee and Debtor; Requirements.
Section 451.425 - Trust Account.
Section 451.426 - Duties of Licensee.
Section 451.427 - Examination of Licensee.
Section 451.429 - Prohibited Practices.
Section 451.430 - Advertisement.
Section 451.431 - Assignment of Wages.
Section 451.432 - Rules; Decisions, Orders, and Rulings; Electronic Filing.
Section 451.434 - Violations; Penalties; Jurisdiction; Remedies.
Section 451.435 - Statute of Limitations.