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In LA Developers, LLC and David Byker v. Department of Licensing and Regulatory Affairs, the Michigan Court of Appeals changed the law holiding Michigan courts must now use the family resemblance test to determine if a note is a security under Michigan Uniform Securities Act.
If your Michigan business issues promissory notes or other evidence of indebtedness, or if you purchase such debt instruments, it is important to understand whether those debt.
Michael F. Cavanagh
When he passed away last November, Michigan Supreme Court Justice Charles Levin was remembered as a maverick and an independent. He certainly merited those descriptors at different times. But he was also something even more important my friend.
In 1966, I was fresh out of law school, serving as a law clerk at the Michigan Court of Appeals, where Chuck had just been elected to serve. Memories are a bit fuzzy from the 1960s, but I do remember the chief judge being a bit impatient with the pace of Judge Levin’s work. And I also remember that when the work was finally done, the product was outstanding.