Sec. 301. A person shall not offer or sell a security in this state unless 1 or more of the following are met: (a) The security is a federal covered security. (b) The security, transaction, or offer is exempted from registration under sections 201 to 203. (c) The security is registered under this act. History: 2008, Act 551, Eff. Oct. 1, 2009 Compiler's Notes: For transfer of securities division of office of finance and insurance regulation from office of finance and insurance regulation to department of licensing and regulatory affairs, see E.R.O. No. 2012-6, compiled at MCL 445.2034.
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