§ 750.130Commission merchant; furnishing written statement upon demand

Sec. 130.
     Commission merchant to furnish written statement upon demand—It shall be the duty of
 every commission merchant, copartnership, association, corporation, person or persons, or
 agent or broker in this state, engaged in the business of buying or selling of or buying and
 selling stocks, bonds, grain, provisions or other commodities or personal property for any
 person, principal, customer or purchaser, to furnish, upon demand, to any customer or
 principal for whom such merchant, broker, copartnership, corporation, association, person or
 persons, or agent or agents has executed any order for the actual purchase or sale of the
 commodities hereinbefore mentioned, either for immediate or future delivery, a written
 statement containing the names of the parties from whom the property was bought, or to
 whom it shall have been sold, as the case may be, the time when, the place where, and the
 price at which the same was either bought or sold, and in case such commission merchant,


                                                                Michigan Compiled Laws Complete Through PA 91 of 2026
Rendered Sunday, September 6, 2026           Page 79 of 465                              Courtesy of legislature.mi.gov

 broker, person or persons, or agent or agents, copartnership, corporation or association shall
 refuse promptly to furnish the statement upon reasonable demand, the fact of such refusal shall
 be prima facie evidence that such property was not sold or bought in a legitimate manner, but
 was bought in violation thereof.