Sec. 819.
(1) A person who knowingly commits an act which act violates this article shall be fined not more than $10,000.00 or shall be imprisoned for not more than 1 year, or both.
(2) This section does not apply to an act committed or omitted in good faith in conformity with an order, rule, declaratory ruling, or written interpretative opinion of the commissioner, notwithstanding that the order, rule, declaratory ruling, or written interpretative opinion is later amended, rescinded, or repealed, or determined by judicial or other authority to be invalid for any reason.
(3) Nothing in this act limits the power of the state to punish a person for an act which constitutes a crime under any statute.
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 8 - Certain Unlawful Activities (487.1801...487.1819)
Section 487.1801 - Definitions.
Section 487.1803 - Willful Untrue Statement or Omission of Material Fact in Application or Report.
Section 487.1809 - Financing Assistance to Associate of Licensee.