Michigan § 554.955 - Offer or sale of continuing care agreement; prohibited acts.
Full text of Michigan Michigan Compiled Laws § 554.955 — Offer or sale of continuing care agreement; prohibited acts., with citation guidance and answers to common questions.
§ 554.955. Offer or sale of continuing care agreement; prohibited acts.
(1) A person shall not, in connection with the offer or sale of a continuing care agreement, directly or indirectly do any of the following:
(a) Employ a device, scheme, or artifice to defraud.
(b) Engage in an act, practice, or course of business which operates or would operate as a fraud or deceit.
(c) Make an untrue statement of a material fact or fail to state a material fact necessary in order to make the statements made not misleading, in the light of the circumstances under which they are made, including an untrue statement of a material fact or failure to state a material fact in any application, notice, or report filed with the department under this act.
(d) Fail to notify the department of a reportable change as required by section 33.
(e) Publish any advertisement or marketing communication that contains false, fraudulent, misleading, or deceptive information. This subdivision does not apply to a person that publishes an advertisement or marketing communication on behalf of a continuing care community and is not affiliated with the continuing care community.
(2) Each of the following practices constitutes a false, fraudulent, misleading, or deceptive advertising or marketing communication for purposes of subsection (1)(e):
(a) A statement or inference that the purchase of a membership in a continuing care community is a safe investment.
(b) A statement or inference that a continuing care community is affiliated with a religious, nonprofit, or proprietary organization if it is not so affiliated.
(c) A material misrepresentation of services, care, or amenities, provided or to be provided by a continuing care community.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 554.955
What does Michigan Compiled Laws § 554.955 cover?
Section 554.955 ("Offer or sale of continuing care agreement; prohibited acts.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 554.955?
A common citation format is "Michigan Compiled Laws § 554.955" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 554.955 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.