Michigan § 451.2405 - Federal covered investment adviser; filing requirements; exceptions; notice; effectiveness of filing.
Full text of Michigan Michigan Compiled Laws § 451.2405 — Federal covered investment adviser; filing requirements; exceptions; notice; effectiveness of filing., with citation guidance and answers to common questions.
§ 451.2405. Federal covered investment adviser; filing requirements; exceptions; notice; effectiveness of filing.
(1) Except with respect to a federal covered investment adviser described in subsection (2), a federal covered investment adviser shall not transact business in this state as a federal covered investment adviser unless the federal covered investment adviser complies with subsection (3).
(2) The following federal covered investment advisers are not required to comply with subsection (3):
(a) A federal covered investment adviser without a place of business in this state if its only clients in this state are any of the following:
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(
(
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(b) A federal covered investment adviser that does not have a place of business in this state if the federal covered investment adviser has had, during the preceding 12 months, not more than 5 clients that are residents of this state in addition to those specified under subdivision (a).
(c) Any other person excluded by rule or order under this act.
(3) A person acting as a federal covered investment adviser, not excluded under subsection (2), shall file a notice, a consent to service of process complying with section 611, and those records that have been filed with the securities and exchange commission under the investment advisers act of 1940 that are required by rule or order under this act and pay the fees specified in section 410(5).
(4) A notice under subsection (3) is effective on filing.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 451.2405
What does Michigan Compiled Laws § 451.2405 cover?
Section 451.2405 ("Federal covered investment adviser; filing requirements; exceptions; notice; effectiveness of filing.") 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 § 451.2405?
A common citation format is "Michigan Compiled Laws § 451.2405" (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 § 451.2405 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.