Michigan § 493.5 - Licenses; contents; posting; transfer; assignment.
Full text of Michigan Michigan Compiled Laws § 493.5 — Licenses; contents; posting; transfer; assignment., with citation guidance and answers to common questions.
§ 493.5. Licenses; contents; posting; transfer; assignment.
Except as otherwise provided under this section, the license shall state the address at which the principal office of the business is to be conducted and shall state fully the name of the licensee, and if the licensee is a co-partnership or association, the names of the members, and if a corporation, the date and place of its incorporation.
The license shall be kept conspicuously posted in the places of business specified in the license.
The license is not transferable or assignable without the prior approval of the commissioner.
The sale, transfer, assignment, or conveyance of more than 25% of the outstanding voting stock of a licensee that is a corporation, or more than 25% of the interest in a licensee that is a partnership or other unincorporated legal entity, shall be considered to be a transfer of the license.
Frequently Asked Questions About Michigan § 493.5
What does Michigan Compiled Laws § 493.5 cover?
Section 493.5 ("Licenses; contents; posting; transfer; assignment.") 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 § 493.5?
A common citation format is "Michigan Compiled Laws § 493.5" (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 § 493.5 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.