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215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)
Section 490.201 - Administration and Supervision by Director; Annual Operating Fee; Limitation; Report Filed by Domestic Credit Union; Delinquent Fee; Waiver; Amendment to Bylaws or Certificate of Organization; Examination of Accounts, Books, and Rec... - Sec. 201. (1) The director shall administer the laws of...
Section 490.202 - Fee, Fine, or Other Money Received or Collected by Director; Disposition; Establishment of Credit Union Regulatory Fund. - Sec. 202. (1) A fee, a civil or administrative fine,...
Section 490.203 - Office of Financial and Insurance Services; Hearing or Proceeding; Document Retention; Order or Ruling. - Sec. 203. (1) Any hearing or other proceeding pending before...
Section 490.204 - Immunity. - Sec. 204. The commissioner and the other employees of the...
Section 490.205 - Disclosure of Information. - Sec. 205. (1) The commissioner and all deputies, agents, and...
Section 490.206 - Rules; Orders; Declaratory Rulings. - Sec. 206. The commissioner may promulgate rules or issue orders...
Section 490.207 - Examination by Director; Conduct; Report; Document, Material, or Information; Confidentiality; Disclosure; Demand for Production; Request for Discovery or Disclosure; Judicial Review; Appeal; Best Practices or Other Improvements; Gu... - Sec. 207. (1) The director or his or her authorized...
Section 490.208 - Application for Additional Powers by Domestic Credit Unions. - Sec. 208. (1) If 1 or more domestic credit unions...
Section 490.209 - Issuance of Subpoena by Circuit Court. - Sec. 209. The commissioner may petition the circuit court for...
Section 490.210 - Notice of Charges; Issuance and Service; Statement of Facts; Hearing; Issuance of Cease and Desist Order; Enforcement; Violation by Foreign or Federal Credit Union. - Sec. 210. (1) If in the opinion of the director...
Section 490.211 - Temporary Cease and Desist Order; Conditions; Injunction for Setting Aside Order. - Sec. 211. (1) If the commissioner determines that a violation...
Section 490.212 - Notice of Intention to Remove Person From Office or to Prohibit Participation in Conduct of Affairs; Conditions; Hearing; Order; Issuance; Basis; Enforcement. - Sec. 212. (1) If in the opinion of the commissioner...
Section 490.213 - Stay of Suspension or Prohibition. - Sec. 213. Within 10 days after the date a person...
Section 490.214 - Individual Charged With Crime Involving Dishonesty or Breach of Trust; Suspension From Office or Prohibition From Participation in Conduct of Affairs; Finding of Not Guilty or Other Disposition. - Sec. 214. (1) If an individual who participates in the...
Section 490.215 - Administrative Hearing. - Sec. 215. (1) The commissioner shall conduct an administrative hearing...
Section 490.216 - Enforcement of Notice or Order; Court Jurisdiction. - Sec. 216. (1) The commissioner may apply to the circuit...
Section 490.217 - Person Subject to Notice or Order for Violation of Law; Prohibited Conduct; Violation as Misdemeanor; Penalty. - Sec. 217. (1) A person who is the subject of...
Section 490.218 - Report From Domestic Credit Union; Requirements; Notice; Failure of Domestic Credit Union to Report by Deadline; Fine. - Sec. 218. (1) The commissioner may require any report from...
Section 490.219 - Delivery of Order or Written Notice; Methods. - Sec. 219. If the commissioner is required to serve an...
Section 490.220 - Civil Fine; Assessment; Limitation; Commencement of Action by Attorney General; Determination of Amount of Fine; Conduct of Administrative Hearing. - Sec. 220. (1) Subject to subsection (2), if the commissioner...
Section 490.221 - Closure of Principal Place of Business or Branch; Existence of Emergency or Legal Holiday. - Sec. 221. (1) The director may by order require a...
215-2003-2-2 - Part 2 Receivers (490.231...490.235)
Section 490.231 - Liquidation; Appointment of Federal Agency as Receiver. - Sec. 231. (1) Except as provided in subsection (2), a...
Section 490.232 - Appointment of Receiver; Conditions; Proceeding; Bond; Reporting Schedule; Subrogation of Federal Agency to Rights of Deposit Owners. - Sec. 232. (1) If a domestic credit union refuses to...
Section 490.233 - Receiver; Duties; Powers. - Sec. 233. (1) Subject to court approval, a receiver appointed...
Section 490.234 - Voidable Transfer or Lien; Person Knowingly Implementing Voidable Transfer or Lien; Personal Liability; Prohibitions to Voiding Otherwise Voidable Transfer; "Preference" Defined. - Sec. 234. (1) Except as provided in subsection (3), a...
Section 490.235 - Disposal of Obsolete and Unnecessary Records; Maintenance Methods; Reservation, Deposit, and Use of Assets. - Sec. 235. (1) If approved by the court, a receiver...
215-2003-2-3 - Part 3 Conservatorships (490.241...490.245)
Section 490.241 - Appointment of Conservator; Grounds; Bond and Security; Qualifications; Payment of Administrative Expenses. - Sec. 241. (1) If any of the grounds under section...
Section 490.242 - Possession of Books, Records, and Assets; Rights of Parties; Discharge of Real Estate Mortgage. - Sec. 242. (1) Under the direction of the commissioner, a...
Section 490.243 - Withdrawal by Members and Depositors and Payment to Other Creditors; Availability of Amounts; Receipt of Shares and Deposits; Actions; Return of Control to Credit Union Board; Notice. - Sec. 243. (1) While a domestic credit union is in...
Section 490.244 - Authority of Commissioner to Borrow Money; Conditions; Secured Loans. - Sec. 244. With the prior approval of the commissioner, a...
Section 490.245 - Termination of Conservatorship; Determination by Commissioner; Resumption of Business Transactions by Domestic Credit Union; Appointment of Receiver; Liquidation. - Sec. 245. (1) If satisfied that it may be done...
215-2003-2-4 - Part 4 Involuntary Mergers or Sales (490.251...490.251)
Section 490.251 - Merger or Sale; Determination by Commissioner; Order; “Distressed Credit Union” Defined. - Sec. 251. (1) The commissioner may order the merger or...