Michigan § 554.981 - Person materially aiding in act or transaction constituting violation; joint and several liability.
Full text of Michigan Michigan Compiled Laws § 554.981 — Person materially aiding in act or transaction constituting violation; joint and several liability., with citation guidance and answers to common questions.
§ 554.981. Person materially aiding in act or transaction constituting violation; joint and several liability.
A person that directly controls a person that violates this act, a partner in a firm that violates this act, a principal executive officer or paid director or trustee of a corporation that violates this act, a person occupying a similar status as an executive officer or director performing similar functions, or an employee of a person that violates this act who materially aids in the act or transaction constituting the violation is also liable jointly and severally with and to the same extent as the person that violates this act, unless the person did not have knowledge of or reasonable grounds to believe in the existence of the facts constituting the violation.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 554.981
What does Michigan Compiled Laws § 554.981 cover?
Section 554.981 ("Person materially aiding in act or transaction constituting violation; joint and several liability.") 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 § 554.981?
A common citation format is "Michigan Compiled Laws § 554.981" (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 § 554.981 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.