{"data":{"id":"us-mi/mich.-comp.-laws-451.318a","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 451.318a","heading":"Bonds; exception from act; securities exempt from blue sky law and mortgage tax act.","body":"Sec. 18a.\n\nThe provisions of this act shall not be construed to apply to the bonds and other obligations issued by the United States government, by any state of the United States, or by any political subdivision thereof, or by any assessment district.\n\nThe exchange of securities for other securities, when such exchange has been approved by the commission, shall be exempt from the provisions of Act No. 220 of the Public Acts of 1923, as amended, and Act No. 91 of the Public Acts of 1911.","path":["MI Code","Chapter 451","Act Act-89-of-1933"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-451-318a","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"b8a200d2107d9083c9d8bf9d574ec34208e39aec34d468b8fea20536e6ef2358","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-451.318","next":"us-mi/mich.-comp.-laws-451.319"},"notice":"GroundRules: Original legal text. Not legal advice."}