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LA DEVELOPERS, LLC v. DEPT. OF LICENSING AND REGULATORY AFFAIRS-CORPORATIONS, SECURITIES, AND COMMERCIAL LICENSING BUREAU

SC: 165824 COA: 358656.

997 N.W.2d 920 (2023)

LA DEVELOPERS, LLC and David Byker, Petitioners-Appellants, v. DEPARTMENT OF LICENSING AND REGULATORY AFFAIRS—CORPORATIONS, SECURITIES, AND COMMERCIAL LICENSING BUREAU, Respondent-Appellee.

Supreme Court of Michigan.

December 20, 2023.

Order

On order of the Court, the application for leave to appeal the May 18, 2023 judgment of the Court of Appeals is considered. We direct the Clerk to schedule oral argument on the application. MCR 7.305(H)(1). The parties shall file supplemental briefs in accordance with MCR 7.312(E), addressing: (1) whether the five-factor test embedded in MCL 451.2102c(c)(i)(A)-(E) is to be applied when determining whether a promissory note is a "security" as that term is defined...

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