---
type: "Bill"
title: "Occupations: securities; notification and temporary hold on certain account disbursements for the protection of certain adults by broker-dealers and investment advisors; allow. Amends title of 2008 PA 551 (MCL 451.2101 - 451.2703) & adds art. 5A."
description: "Occupations: securities; notification and temporary hold on certain account disbursements for the protection of certain adults by broker-dealers and investment advisors; allow. Amends title of 2008 PA 551 (MCL 451.2101 - 451.2703) & adds art. 5A."
jurisdiction: "us/states/mi"
legislature: "Michigan Legislature"
session: "2023-2024"
identifier: "HB 4197"
citation: "Michigan HB 4197 (2023-2024)"
classification: ["bill"]
subjects: ["Occupations: advisors and counselors", "Occupations: securities", "State agencies (existing): insurance and financial services"]
status: "enacted"
primary_sponsors: ["Angela Witwer"]
version_count: 7
action_count: 28
vote_count: 2
first_action: "2023-03-07"
last_action: "2023-12-31"
source: "openstates"
source_identifier: "ocd-bill/a61a2924-d9cd-48f1-afd6-96577157c29c"
source_url: "https://legislature.mi.gov/Bills/Bill?ObjectName=2023-HB-4197"
source_hash: "4cf2e29e9cb15cb4c08cab91f9c61ec7b498930e20453e368f094dc5bd6a5236"
vintage: "2026-07-01"
source_snapshot: "https://data.openstates.org/daily/2026-07-01/public.pgdump"
retrieved_at: "2026-07-06"
confidence: "reported"
tags: ["legislation", "bill", "us-mi"]
---

# Michigan HB 4197 (2023-2024) — Occupations: securities; notification and temporary hold on certain account disbursements for the protection of certain adults by broker-dealers and investment advisors; allow. Amends title of 2008 PA 551 (MCL 451.2101 - 451.2703) & adds art. 5A.

## Version chain

The bill's text revisions, in order — the diff chain from filing to enrollment.

1. **As Passed by the House** (committee substitute) — [source](https://legislature.mi.gov/documents/2023-2024/billengrossed/House/pdf/2023-HEBH-4197.pdf)
2. **As Passed by the Senate** (committee substitute) — [source](https://legislature.mi.gov/documents/2023-2024/billengrossed/House/pdf/2023-HEBS-4197.pdf)
3. **House Concurred Bill** (committee substitute) — [source](https://legislature.mi.gov/documents/2023-2024/billconcurred/House/pdf/2023-HCB-4197.pdf)
4. **House Introduced Bill** (committee substitute) — [source](https://legislature.mi.gov/documents/2023-2024/billintroduced/House/pdf/2023-HIB-4197.pdf)
5. **Public Act** (committee substitute) — [source](https://legislature.mi.gov/documents/2023-2024/publicact/pdf/2023-PA-0306.pdf)
6. **Substitute (H-1)** (committee substitute) — [source](https://legislature.mi.gov/Home/GetObject?objectName=2023-HCVBS-4197-0N295.pdf)
7. **Substitute (H-1) - 2** (committee substitute) — [source](https://legislature.mi.gov/Home/GetObject?objectName=2023-HCVBS-4197-0O338.pdf)

## Votes

- passed; given immediate effect Roll Call # 144 Yeas 103 Nays 4 Excused 0 Not Voting 3 — **103–4** (pass) · lower
- PASSED ROLL CALL # 724 YEAS 37 NAYS 0 EXCUSED 1 NOT VOTING 0 — **37–0** (pass) · upper

## Sponsors

- Angela Witwer — primary (person)
- Carrie Rheingans — cosponsor (person)
- Christine Morse — cosponsor (person)
- Jason Morgan — cosponsor (person)
- Jasper Martus — cosponsor (person)
- Jim Haadsma — cosponsor (person)
- Noah Arbit — cosponsor (person)
- Penelope Tsernoglou — cosponsor (person)
- Rachel Hood — cosponsor (person)
- Sharon MacDonell — cosponsor (person)
- Stephanie A. Young — cosponsor (person)

## Timeline

The legislative action history — every referral, reading, and vote.

- **2023-03-07** introduced by Representative Angela Witwer `introduction`
- **2023-03-07** read a first time `reading-1`
- **2023-03-07** referred to Committee on Insurance and Financial Services `referral-committee`
- **2023-03-08** bill electronically reproduced 03/07/2023
- **2023-05-30** reported with recommendation with substitute (H-1) `committee-passage`
- **2023-05-30** referred to second reading
- **2023-06-07** read a second time `reading-2`
- **2023-06-07** substitute (H-1) adopted
- **2023-06-07** placed on third reading
- **2023-06-08** read a third time `reading-3`
- **2023-06-08** passed; given immediate effect Roll Call # 144 Yeas 103 Nays 4 Excused 0 Not Voting 3 `passage`
- **2023-06-08** transmitted
- **2023-06-13** REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTION `referral-committee`
- **2023-11-09** REPORTED FAVORABLY WITHOUT AMENDMENT `committee-passage`
- **2023-11-09** REFERRED TO COMMITTEE OF THE WHOLE `referral-committee`
- **2023-11-09** REPORTED BY COMMITTEE OF THE WHOLE FAVORABLY WITHOUT AMENDMENT(S) `committee-passage`
- **2023-11-09** PLACED ON ORDER OF THIRD READING
- **2023-11-09** RULES SUSPENDED
- **2023-11-09** PLACED ON IMMEDIATE PASSAGE
- **2023-11-09** PASSED ROLL CALL # 724 YEAS 37 NAYS 0 EXCUSED 1 NOT VOTING 0 `passage`
- **2023-11-09** INSERTED FULL TITLE
- **2023-11-09** returned from Senate without amendment with full title
- **2023-11-09** full title agreed to
- **2023-11-09** bill ordered enrolled
- **2023-12-31** presented to the Governor 12/06/2023 02:28 PM `executive-receipt`
- **2023-12-31** approved by the Governor 12/13/2023 04:50 PM `executive-signature`
- **2023-12-31** filed with Secretary of State 12/14/2023 09:58 AM
- **2023-12-31** assigned PA 306'23

## Source

OpenStates / OpenCivicData bulk snapshot [2026-07-01](https://data.openstates.org/daily/2026-07-01/public.pgdump); origin `ocd-bill/a61a2924-d9cd-48f1-afd6-96577157c29c`. Confidence: reported (aggregated from official Michigan legislature records).