Michigan Laws 451.318a – Bonds; exception from act; securities exempt from blue sky law and mortgage tax act
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The provisions of this act shall not be construed to apply to the bonds and other obligations issued by the United States government, by any state of the United States, or by any political subdivision thereof, or by any assessment district.
The exchange of securities for other securities, when such exchange has been approved by the commission, shall be exempt from the provisions of Act No. 220 of the Public Acts of 1923, as amended, and Act No. 91 of the Public Acts of 1911.
Terms Used In Michigan Laws 451.318a
- commission: means the public trust commission as hereinbefore created. See Michigan Laws 451.302
- securities: shall include bonds, notes, debentures, and any other instrument of like character used to evidence indebtedness. See Michigan Laws 451.302
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- United States: shall be construed to include the district and territories. See Michigan Laws 8.3o