Michigan § 451.317 - Fiduciary's relation to security holders; reports of purchases.
Full text of Michigan Michigan Compiled Laws § 451.317 — Fiduciary's relation to security holders; reports of purchases., with citation guidance and answers to common questions.
§ 451.317. Fiduciary's relation to security holders; reports of purchases.
All mortgagors and all persons who are depositaries, solicitors, and members of protective committees shall be deemed to be in a fiduciary relationship to the holders or owners of the securities with respect to which they are mortgagors, depositaries, solicitors, and members of protective committees, respectively, whether or not such holders or owners have deposited their securities and/or consented to the protective committee agreement; and every purchase by a mortgagor, depositary, solicitor or member of a protective committee of securities with respect to which such purchaser is the mortgagor, depositary, solicitor or member of a protective committee, respectively, shall be forthwith disclosed in writing to the commission by such purchaser.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 451.317
What does Michigan Compiled Laws § 451.317 cover?
Section 451.317 ("Fiduciary's relation to security holders; reports of purchases.") 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 § 451.317?
A common citation format is "Michigan Compiled Laws § 451.317" (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 § 451.317 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.