The web Browser you are currently using is unsupported, and some features of this site may not work as intended. Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer.
Do we need to give written notice for a proposed change of Direct or Indirect Ownership?
Yes. The transfer of a license is required when a change in control is proposed, or more than 25% of the ownership of a licensed entity will be conveyed. Section 24 of the MTSA requires prior approval by the Director for the transfer of a license. An Advanced Change Notice must be submitted through NMLS at least 30 days before the proposed change of control occurs.