Michigan § 500.7034 - Trustee or officer; prohibited conduct; violation as felony; penalty.

Full text of Michigan Michigan Compiled Laws § 500.7034 — Trustee or officer; prohibited conduct; violation as felony; penalty., with citation guidance and answers to common questions.

§ 500.7034. Trustee or officer; prohibited conduct; violation as felony; penalty.

Sec. 7034.(1)

A trustee or officer of a MEWA shall not knowingly and intentionally, directly or indirectly, receive any money or valuable thing for negotiating, procuring, recommending, or aiding in any purchase by or sale to the MEWA of any property or any loan from the MEWA, or be pecuniarily interested, either as principal, co-principal, agent, or beneficiary in any such purchase, sale, or loan.

(2)

A person who violates this section is guilty of a felony punishable by a fine of not more than $10,000.00, or by imprisonment for not more than 10 years, or both.

Source: official Michigan text · Last verified 2026-08-27

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Frequently Asked Questions About Michigan § 500.7034

What does Michigan Compiled Laws § 500.7034 cover?

Section 500.7034 ("Trustee or officer; prohibited conduct; violation as felony; penalty.") 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 § 500.7034?

A common citation format is "Michigan Compiled Laws § 500.7034" (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 § 500.7034 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.