Michigan § 487.1811 - Financing assistance to discharge obligation to associate of licensee; transactions to which section inapplicable.
Full text of Michigan Michigan Compiled Laws § 487.1811 — Financing assistance to discharge obligation to associate of licensee; transactions to which section inapplicable., with citation guidance and answers to common questions.
§ 487.1811. Financing assistance to discharge obligation to associate of licensee; transactions to which section inapplicable.
A licensee shall not provide, directly or indirectly, financing assistance to discharge, or to free other money for use in discharging, in whole or in part, an obligation to an associate of that licensee. This section does not apply to a transaction effected by an associate of a licensee in the normal course of that associate's business involving a line of credit or short-term financing assistance.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 487.1811
What does Michigan Compiled Laws § 487.1811 cover?
Section 487.1811 ("Financing assistance to discharge obligation to associate of licensee; transactions to which section inapplicable.") 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 § 487.1811?
A common citation format is "Michigan Compiled Laws § 487.1811" (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 § 487.1811 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.