Michigan — Statute

750.130 – Commission merchant; furnishing written statement upon demand | Michigan Law

Michigan law mandates commission merchants to provide transaction details upon request; refusal can indicate illegitimate dealings. Learn more here.

Legal Content

Michigan State Law

750.130 – Commission merchant; furnishing written statement upon demand

Michigan Penal Code § 750.130

Summary

Michigan law requires commission merchants, brokers, and related entities engaged in buying or selling commodities or personal property to provide a written statement upon demand. This statement must include details such as the parties involved, date, location, and price of the transaction. Refusal to furnish this statement can be used as evidence of illegitimate or unlawful transactions.

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Explain Like I'm 5

In simple terms: Michigan law mandates commission merchants to provide transaction details upon request; refusal can indicate illegitimate dealings. Learn more here.. This means people must follow this rule, and breaking it can lead to criminal penalties.