Update all Folders to Read Only with current UAC Membership

Is there a simple way to change all the current Users / Lists / Groups within the UAC of a folder (or set of folders) to Read Only / File Read?

We need this for our Archives. I already have a PowerShell script that will move the folders into the Archive locations, but would like to add an option to make the entire project read only in the same process.

As i'm not Adding or Removing any groups or users, im hoping there might be a quick option rather than Getting all of the groups and applying the change one by one through a loop. 

I have tried to use the Update-PWFolderSecurity cmdlet but it wants me to provide the MemberType and Name

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