Michigan § 487.2053 - License required to engage in business activity; exceptions.
Full text of Michigan Michigan Compiled Laws § 487.2053 — License required to engage in business activity; exceptions., with citation guidance and answers to common questions.
§ 487.2053. License required to engage in business activity; exceptions.
A person shall not engage in a business activity unless the person is licensed under the appropriate financial licensing act, or by this act.
This act applies to a person who engages in any business activity if the person is not licensed or, as applicable, registered under the applicable financial licensing act or licensed under this act and is not otherwise exempt from applicable licensing or registration requirements. If a person engages in 1 or more business activities without the applicable licenses or registrations, it shall be discretionary with the commissioner to enforce the applicable licensing or registration requirements under either 1 or more of the financial licensing acts or this act, but not both.
This act does not apply to a depository financial institution.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 487.2053
What does Michigan Compiled Laws § 487.2053 cover?
Section 487.2053 ("License required to engage in business activity; exceptions.") 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 § 487.2053?
A common citation format is "Michigan Compiled Laws § 487.2053" (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 § 487.2053 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.