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Section 487.3401 - Savings Bank; Powers. - Sec. 401. (1) Except as otherwise provided by this act,...
Section 487.3402 - Purchase, Design, Manufacture, Construction, Repair, Modification, or Improvement of Real Property; Use of Loan Proceeds; Liability for Defect. - Sec. 402. A savings bank that makes a loan the...
Section 487.3403 - Purchase of Corporation Stock by Savings Bank; Limitation on Aggregate Investments. - Sec. 403. Except as otherwise provided by this act, with...
Section 487.3404 - Purchase of Stock, or Loans To, Michigan Business Development Corporation. - Sec. 404. Except as otherwise provided by this act or...
Section 487.3405 - Venture Capital Investments; “Professional Investor” and “Venture Capital” Defined. - Sec. 405. (1) Except as otherwise provided by this act...
Section 487.3406 - “Investment Security” and “Secretary” Defined; Purchase of Investment Securities. - Sec. 406. (1) As used in this section: (a) "Investment...
Section 487.3407 - Acquisition, Development, or Improvement of Real Estate; Limitation on Investment of Assets; Powers of Savings Bank. - Sec. 407. A savings bank may invest not more than...
Section 487.3408 - Services Performed by Savings Bank. - Sec. 408. A savings bank may perform 1 or more...
Section 487.3409 - Savings Bank Engaged in Real Estate Brokerage Business; Notice of Licensure or Ownership; Prohibited Acts; Disclosure to Credit Applicant; Violation of Section; Orders; Limitation. - Sec. 409. (1) A savings bank that engages directly in...
Section 487.3410 - Investment in Service Entities. - Sec. 410. (1) Upon 30 days' notice to the commissioner,...
Section 487.3411 - Powers Granted in MCL 487.3401 and 487.3403 Construed. - Sec. 411. The powers granted in sections 401 and 403...
Section 487.3412 - Change in Location of Principal Office. - Sec. 412. (1) Upon prior written notice to the commissioner,...
Section 487.3413 - Transactions Relating to Capital Stock of Corporation; Authorization; Purchase and Sale of Securities and Stock; Loan or Discount; Purchase or Holding of Own Stock. - Sec. 413. (1) A savings bank shall not engage in...
Section 487.3414 - Savings Bank Possessing Capital and Surplus More Than $1,000,000.00; Powers; Application; Savings Bank Operating Foreign Branches; Restrictions and Limitations; Further Powers. - Sec. 414. (1) A savings bank possessing a capital and...
Section 487.3415 - Savings Bank With Branch Offices in Foreign Country. - Sec. 415. (1) Notwithstanding section 1105 of the uniform commercial...
Section 487.3416 - Savings Bank as Owner or Lessor of Personal Property; Lease Payments as Rent; Taxes; Prohibition. - Sec. 416. (1) A savings bank may become the owner...
Section 487.3417 - Savings Bank With Branch in Another State. - Sec. 417. (1) A savings bank may establish and operate...
Section 487.3418 - Loan Production Offices. - Sec. 418. (1) Without notice to or approval of the...
Section 487.3419 - Purchase or Assumption of National or State Chartered Bank, Savings Bank, or Association; Operation as New Branch. - Sec. 419. Notwithstanding any other provision of this act, a...
Section 487.3420 - Discontinuing Operations of Branch or Agency Office; Transfer of Functions. - Sec. 420. If a savings bank permanently discontinues the operations...
Section 487.3421 - Trust Powers; Conditions, Limitations, and Restrictions. - Sec. 421. (1) Upon application, the commissioner may grant to...
Section 487.3422 - Definitions; Trust Service Agreements. - Sec. 422. (1) As used in this section: (a) "Banking...
Section 487.3423 - Separation of Trust Department Business From Commercial Bank Business; Commingled and Consolidated Funds; Limitation; Lien on Securities in Event of Savings Bank Failure. - Sec. 423. (1) A savings bank exercising a trust power...
Section 487.3424 - Fiduciary Powers; Considerations. - Sec. 424. (1) In passing upon applications for permission to...
Section 487.3425 - Repealed. 2000, Act 482, Imd. Eff. Jan. 11, 2001. - Compiler's Notes: The repealed section pertained to commencement of trust...
Section 487.3426 - Fund or Property Held by Savings Bank as Fiduciary; Investments; “Registered Investment Company” Defined; Funds Considered as Held in Fiduciary Capacity. - Sec. 426. (1) Funds or property held by a savings...
Section 487.3427 - Enforcement of MCL 487.3421 to 487.3426; Orders or Declaratory Rulings. - Sec. 427. The commissioner may issue orders or declaratory rulings...
Section 487.3428 - Safe Deposit and Storage Department. - Sec. 428. (1) If a savings bank operates a safe...
Section 487.3429 - Lease, Purchase, Holding, and Conveyance of Real Estate. - Sec. 429. (1) A savings bank may lease, purchase, hold,...
Section 487.3430 - Interest and Charges on Loans and Credit Extensions. - Sec. 430. (1) Savings banks may collect interest and charges...
Section 487.3431 - Drafts or Bills of Exchange. - Sec. 431. (1) A savings bank may accept drafts or...
Section 487.3432 - Loans and Extensions of Credit and Leases; Limitations; Exceptions; Definitions. - Sec. 432. (1) Except as otherwise provided in this section...
Section 487.3433 - Loans and Extensions of Credit; Exceptions to Limitations. - Sec. 433. All of the following loans and extensions of...
Section 487.3434 - Capital and Surplus; Limitations. - Sec. 434. All of the following limitations based upon capital...
Section 487.3436 - Automatic Teller Machine Located on Premises of Casino, Casino Enterprise, Liquor Store, or Adult Entertainment Establishment; Preventing Access to Cash Benefits From Michigan Bridge Card; Definitions. - Sec. 436. (1) A savings bank that owns, operates, or...