487.1513 Lien on or security interest in property of licensee. Sec. 513. Except with the approval of the commissioner, a licensee shall not provide a lien on or security interest in any of its property for the purpose of securing an obligation of, or an obligation incurred for the benefit of, another person. History: 1986, Act 89, Imd. Eff. May 1, 1986
Michigan Legal Code