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Lawsuit Leads to Michigan Uniform Securities Act Changes

In LA Developers, LLC and David Byker v. Department of Licensing and Regulatory Affairs, the Michigan Court of Appeals changed the law holiding Michigan courts must now use the family resemblance test to determine if a note is a security under Michigan Uniform Securities Act. ....

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Michigan Court of Appeals Broadens Potential Exposure to Securities Fraud by Issuers and Sellers of Debt Instruments in Michigan | Miller Canfield

If your Michigan business issues promissory notes or other evidence of indebtedness, or if you purchase such debt instruments, it is important to understand whether those debt. ....

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