Bill Text: MI HB5727 | 2017-2018 | 99th Legislature | Chaptered


Bill Title: Businesses; franchises; prohibition against pyramid schemes; revise in franchise investment law. Amends sec. 28 of 1974 PA 269 (MCL 445.1528). TIE BAR WITH: HB 5726'18

Spectrum: Partisan Bill (Republican 1-0)

Status: (Passed) 2018-08-15 - Assigned Pa 187'18 With Immediate Effect [HB5727 Detail]

Download: Michigan-2017-HB5727-Chaptered.html

Act No. 187

Public Acts of 2018

Approved by the Governor

June 12, 2018

Filed with the Secretary of State

June 13, 2018

EFFECTIVE DATE: September 11, 2018

STATE OF MICHIGAN

99TH LEGISLATURE

REGULAR SESSION OF 2018

Introduced by Reps. Hornberger, Lucido, Marino, Leutheuser, Noble and Iden

ENROLLED HOUSE BILL No. 5727

AN ACT to amend 1974 PA 269, entitled “An act to regulate the offer, sale, and purchase of franchises; to prohibit fraudulent practices in relation thereto; to prohibit pyramid and chain promotions; to impose regulatory duties upon certain state departments and agencies; and to provide penalties,” by amending section 28 (MCL 445.1528).

The People of the State of Michigan enact:

Sec. 28. The department shall not accept for filing a franchise that involves a pyramid promotional scheme that violates the pyramid promotional scheme act, MCL 445.2581 to 445.2586.

Enacting section 1. This amendatory act takes effect 90 days after the date it is enacted into law.

Enacting section 2. This amendatory act does not take effect unless House Bill No. 5726 of the 99th Legislature is enacted into law.

This act is ordered to take immediate effect.

Clerk of the House of Representatives

Secretary of the Senate

Approved

Governor