Section 487.1315 - Michigan corporation or limited liability company licensed under another law(1) A Michigan corporation or Michigan limited liability company that is licensed under another law of this state or the United States may be issued a license under this act unless the transaction of business as a licensee under the other law of this state or the United States would violate this act or would be contrary to the purposes of this act.(2) A Michigan corporation or Michigan limited liability company that is licensed under this act may apply for and be issued a license under another law of this state or the United States unless the transaction of business as a licensee under the other law of this state or the United States would violate this act or would be contrary to the purposes of this act.1986, Act 89, Imd. Eff. 5/1/1986 ;--Am. 1997, Act 150, Imd. Eff. 12/2/1997.