Sec. 501.
(1) A licensee shall maintain not less than 1 office in this state.
(2) A licensee shall not maintain an office at any place outside this state.
(3) Each office of a licensee shall be located in a place which is reasonably accessible to the public.
(4) A licensee shall post in a conspicuous place at each of its offices a sign which bears the corporate name of the licensee.
(5) A licensee shall maintain at each of its offices personnel who are competent to conduct the business of such an office.
(6) Upon written notice to the commissioner, a licensee may establish, relocate, or close an office.
History: 1986, Act 89, Imd. Eff. May 1, 1986
Structure Michigan Compiled Laws
Chapter 487 - Financial Institutions
Act 89 of 1986 - Michigan Bidco Act (487.1101 - 487.2001)
Article 5 - Transaction of Business (487.1501...487.1513)
Section 487.1503 - Business of Licensee; Powers and Privileges of Licensee.
Section 487.1513 - Lien on or Security Interest in Property of Licensee.