Section R. 500.86 - Disclaimer of affiliation and termination of registrationRule 16.
(1) A petition for disclaimer of affiliation or a request for termination of registration claiming that a person does not, or will not upon the taking of some proposed action, control another subject person must contain the following information: (a) The number of authorized, issued, and outstanding voting securities of the subject person.(b) With respect to the person whose control is denied and all affiliates of that person, the number and percentage of shares of the subject person's voting securities that are held of record or known to be beneficially owned, and the number of shares there is a right to acquire, directly or indirectly.(c) All material relationships and bases for affiliation between the subject person and the person whose control is denied and all affiliates of that person.(d) A statement explaining why the person must not be considered to control the subject person.(2) The burden of proof for establishing that an affiliation does not exist rests with the petitioner and is subject to the director's approval.Mich. Admin. Code R. 500.86
2024 MR 6, Eff. March 20, 2024