Michigan § 567.251b - Streamlined audit process; election; audit.
Full text of Michigan Michigan Compiled Laws § 567.251b — Streamlined audit process; election; audit., with citation guidance and answers to common questions.
§ 567.251b. Streamlined audit process; election; audit.
(1) Eligible holders being examined by the administrator under section 31(2) may elect to follow the streamlined audit process described in this section. Eligible holders may elect the streamlined audit process by executing a nondisclosure agreement acceptable to the administrator within 30 days from the receipt of the audit notice.
(2) An audit conducted under the streamlined audit process described in this section shall meet both of the following:
(a) Be completed within a time frame jointly developed by the holder and the administrator, with the goal of completing the audit within 18 months from the receipt of the audit notice.
(b) Be conducted according to standards set forth in rules and regulations promulgated in accordance with section 31(4).
Frequently Asked Questions About Michigan § 567.251b
What does Michigan Compiled Laws § 567.251b cover?
Section 567.251b ("Streamlined audit process; election; audit.") 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 § 567.251b?
A common citation format is "Michigan Compiled Laws § 567.251b" (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 § 567.251b 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.