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Investment Company (Mutual Funds)

Investment Company (Mutual Funds)

Statute Authority:

Michigan Uniform Securities Act, Article 3

Rule Authority

Forms/Documents

Key Points

  • There is an initial or first-year filing fee of $500.00.
  • Renewal fees for subsequent years are based upon a schedule of four flat fees.  The issuer will estimate the number of nonexempt shares it expects to sell in Michigan over the coming notice filing year. Such estimates must be reasonable and based on any facts known to the issuer at the time of renewal that may affect sales of the security, including, but not limited to, nonexempt sales during the notice filing period being renewed. Once the issuer estimates the number of shares it expects to sell in Michigan, it must pay a renewal fee in accordance with the following schedule:
    • $250,000 or less:  $100.00
    • More than $250,000 but less than $700,000: $400.00
    • More than $700,000 but less than $1 million: $800.00
    • More than $1 million: $1,400.00
  • Unit Investment Trusts are treated as initial filers and assessed a one-time filing fee of $500.00. The filing fee will provide indefinite effectiveness.
  • Michigan is now requiring online filings of Unit Investment Trusts through the North American Securities Administrators Association’s (NASAA) electronic filing depository (EFD) system.  Michigan is among a growing number of states participating in online filing of Form NF-UIT and the 48 states participating in online filing of Form D through the EFD. The EFD website also enables the public to search and view, free of charge, filings made through EFD with state securities regulator. EFD is available at: https://www.efdnasaa.org.

 

 

Helpful Links

 

Contact Us:
Department of Licensing and Regulatory Affairs (LARA)
Corporations, Securities & Commercial Licensing Bureau (CS&CL)
Securities and Audit Division
Address:  PO Box 30018, Lansing, MI 48909
Overnight Mail (FedEx/UPS): 2407 N. Grand River Ave, Lansing, MI 48906
Phone: (517) 335-5237
Fax:  (517) 763-0039
Email: LARA-CSCL-Securities-Audit@michigan.gov