Michigan law prohibits maintaining or operating a bucket shop, which is an illegal gambling or betting establishment, and imposes felony penalties including imprisonment and fines. It also addresses accessories who facilitate such illegal activities, making them liable for similar penalties. Repeat offenses can lead to forfeiture of corporate rights and privileges.
A bucket shop is an illegal establishment that engages in betting or gambling activities, often involving the sale or exchange of property price quotations for betting purposes.
The penalties include imprisonment in the state prison for up to 2 years and fines between $500 and $1,000. Repeat offenses can lead to forfeiture of corporate rights.
Individuals or entities that communicate, receive, or display quotations related to property prices for illegal transactions can be charged as accessories and face similar penalties.
Yes, a corporation can be penalized with imprisonment and fines, and if it is a repeat offender, it may lose its rights and privileges as a corporation.