Michigan Laws 493.9f – Violation as misdemeanor; penalty
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Terms Used In Michigan Laws 493.9f
- Control person: means a director or executive officer of a licensee or a person who has the authority to participate in the direction, directly or indirectly through 1 or more other persons, of the management or policies of a licensee. See Michigan Laws 493.1
- Executive officer: means an officer, member, or partner of a licensee, including chief executive officer, president, vice president, chief financial officer, controller, compliance officer, or any other similar position. See Michigan Laws 493.1
Any current or former executive officer, director, agent, or control person who violates a final order issued under section 9c is guilty of a misdemeanor punishable by a fine of not more than $5,000.00 or imprisonment for not more than 1 year, or both.