The mission of the Business Law Section is to foster the highest quality of professionalism and practice in business law and to enhance the legislative and regulatory environment for conducting business in Michigan. To fulfill this mission, the Section shall: (1) expand the resources of business lawyers by providing educational, networking and mentoring opportunities; (2) review and promote improvements to Michigan's business legislation and regulations; and (3) provide a forum to facilitate service and commitment and to promote ethical conduct and collegiality within the practice.
Become Active in the Section
It is easy to become active in the Business Law Section. As is true with many volunteer organizations, the time and effort put into the Section by its officers, Council members, Committee chairs, and other active members directly correlates to the viability of the Section and its worth to all Section members. Volunteer Today
2018–2019 Regulation of Securities Committee Meetings
Monday, October 22, 2018, 4:30–5:30 p.m. (conference call only)
Monday, April 30, 2019, 4:30–5:30 p.m. (location to be determined)
Case Alert: Czyzewski v. Jevic Holding Corp.
The Supreme Court held that the Absolute Priority Rule is Absolute in Bankruptcy. Paul Hage has graciously written the attached summary of the reasoning and holding in Jevic for the Committee.
Updates on Michigan Uniform Securities Act (MUSA) Rule-Making
The Michigan Uniform Securities Act (2002), Public Act 551 of 2008, MCL 451.2101 et seq. (“MUSA”) became effective on October 1, 2009, and thereby superseded the 1964 version of this largely uniform state law. On September 1, 2016, the Corporations, Securities, and Commercial Licensing Bureau (“Bureau”) of the Michigan Department of Licensing and Regulatory Affairs (“LARA”) published for public comment a new rule set (“Proposed Rules”). These Proposed Rules would implement various regulatory changes made by the new MUSA. If adopted, the Proposed Rules will replace six transition orders that implemented a limited number of the statutory changes made by the new MUSA. The Proposed Rules would make a significant number of further changes in Michigan’s regulation of securities, including important public policy changes directly impacting small business capital formation, securities offerings, private funds, securities brokerage, and investment advisory services. For more information, please see the following resources:
Additional Regulatory Background Information