{"data":{"id":"us-mi/mich.-comp.-laws-451.317","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 451.317","heading":"Fiduciary's relation to security holders; reports of purchases.","body":"Sec. 17.\n\nAll mortgagors and all persons who are depositaries, solicitors, and members of protective committees shall be deemed to be in a fiduciary relationship to the holders or owners of the securities with respect to which they are mortgagors, depositaries, solicitors, and members of protective committees, respectively, whether or not such holders or owners have deposited their securities and/or consented to the protective committee agreement; and every purchase by a mortgagor, depositary, solicitor or member of a protective committee of securities with respect to which such purchaser is the mortgagor, depositary, solicitor or member of a protective committee, respectively, shall be forthwith disclosed in writing to the commission by such purchaser.","path":["MI Code","Chapter 451","Act Act-89-of-1933"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-451-317","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"325ae863a9839dd052a46ecbceee488a9dc7be781866c1bc4f8d5226b4590921","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-451.316","next":"us-mi/mich.-comp.-laws-451.318"},"notice":"GroundRules: Original legal text. Not legal advice."}