Michigan § 451.302 - Protective committees, depositaries and solicitors; definitions.
Full text of Michigan Michigan Compiled Laws § 451.302 — Protective committees, depositaries and solicitors; definitions., with citation guidance and answers to common questions.
§ 451.302. Protective committees, depositaries and solicitors; definitions.
Definitions as used in this act are as follows:
The term "commission" means the public trust commission as hereinbefore created.
The term "person" or "persons" shall include natural persons, corporations, partnerships, associations, companies, and syndicates.
The term "security" or "securities" shall include bonds, notes, debentures, and any other instrument of like character used to evidence indebtedness.
The term "protective committee" shall include all persons who propose or purport to act, or who are now acting, for and in behalf of others and/or themselves with respect to a security and/or for the purpose of protecting and preserving the common interests of the holders or owners of the particular security.
The term "depositary" shall include all persons who propose to act, or who are now acting, in connection with a protective committee for the purpose of accepting securities for deposit under and/or consents to a protective committee agreement.
The term "solicitor" shall include all persons who procure or solicit directly or indirectly, or who are now procuring or soliciting directly or indirectly the deposit of securities with a depositary under a protective committee agreement or similar instrument and/or who procure or solicit directly or indirectly, or who are now procuring or soliciting directly or indirectly, the consent of holders or owners of securities to a protective committee agreement or similar instrument.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 451.302
What does Michigan Compiled Laws § 451.302 cover?
Section 451.302 ("Protective committees, depositaries and solicitors; definitions.") 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 § 451.302?
A common citation format is "Michigan Compiled Laws § 451.302" (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 § 451.302 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.