Ask a question on the site
Questions
Lawyers
Blogs
Legislation
Contacts
Become a lawyer
Login Registration
Section 487.13805 - Capital Stock; Reduction. - Sec. 3805. (1) By a vote of shareholders owning 2/3...
Section 487.13806 - Dividends. - Sec. 3806. (1) From time to time, the board of...
Section 487.13807 - Deficiency; Steps to Make Assessment or Dissolution; Extension. - Sec. 3807. (1) If, in the opinion of the commissioner,...
Section 487.13808 - Distribution of Sale Proceeds; Issuance of New Certificates; Effect of Uniform Commercial Code. - Sec. 3808. (1) If, 30 days after notice as provided...
276-1999-3-9 - Part 9 Administration (487.13901...487.13913)
Section 487.13901 - Repayment of Deposits. - Sec. 3901. Deposits shall be repaid to the depositor, or...
Section 487.13902 - Compliance Review Committee. - Sec. 3902. (1) An officer or the board of directors...
Section 487.13903 - Surety Bond. - Sec. 3903. (1) The board of directors shall require every...
Section 487.13904 - Indemnification. - Sec. 3904. (1) A bank may indemnify a person described...
Section 487.13905 - Indemnification; Expenses and Amounts. - Sec. 3905. (1) To the extent that a director, officer,...
Section 487.13906 - Director, Officer, Employee, or Agent as Party to Action; Reimbursement. - Sec. 3906. A bank may pay or reimburse the reasonable...
Section 487.13907 - Other Rights to Indemnification or Advancement; Limitation. - Sec. 3907. The indemnification or advancement of expenses provided by...
Section 487.13908 - Liability Insurance or Trust Fund. - Sec. 3908. A bank has the power to purchase and...
Section 487.13909 - Consolidation or Merger; Position of Director, Officer, Employee, or Agent of Absorbed Depository Institution. - Sec. 3909. For purposes of this section and sections 3904,...
Section 487.13910 - Definitions; Person Acting in Best Interests of Bank or Shareholders. - Sec. 3910. (1) For the purposes of sections 3904, 3905,...
Section 487.13911 - Reports. - Sec. 3911. (1) The commissioner may require reports from any...
Section 487.13912 - Attachment or Execution. - Sec. 3912. Attachment or execution shall not be issued against...
Section 487.13913 - Action Taken or Event Occurring on or Before November 29, 1995. - Sec. 3913. A written agreement entered into under section 130b...
276-1999-4 - Chapter 4 Banking Powers (487.14101...487.14406)
276-1999-4-1 - Part 1 General Provisions (487.14101...487.14111)
Section 487.14101 - Banking Powers Generally. - Sec. 4101. (1) Subject to the limitations and restrictions contained...
Section 487.14102 - Safe Deposit and Storage Department; Lien for Unpaid Rental and Storage Charges. - Sec. 4102. (1) If a bank operates a safe deposit...
Section 487.14103 - Drafts or Bills of Exchange. - Sec. 4103. (1) A bank may accept drafts or bills...
Section 487.14104 - Real Estate Brokerage. - Sec. 4104. (1) A bank may engage directly in, or...
Section 487.14105 - Permitted Services or Activities. - Sec. 4105. A bank may perform for others 1 or...
Section 487.14106 - Purchase or Sale of Assets; Powers of Bank. - Sec. 4106. (1) With the approval of the commissioner, based...
Section 487.14107 - Sale or Purchase of Bank Branch. - Sec. 4107. (1) A bank may sell 1 or more...
Section 487.14108 - Pledging Bank Assets as Collateral Security. - Sec. 4108. (1) Except as otherwise provided in this section,...
Section 487.14109 - Bank Agent; Activities. - Sec. 4109. An agent of a bank described in section...
Section 487.14110 - 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. 4110. (1) A bank that owns, operates, or manages...
Section 487.14111 - Loan Promotion Raffle or Savings Promotion Raffle. - Sec. 4111. (1) If authorized by its board of directors,...
276-1999-4-2 - Part 2 Loans (487.14201...487.14205)
Section 487.14201 - Loans and Credit Extensions; Interest and Charges. - Sec. 4201. (1) A bank may collect interest and charges...
Section 487.14202 - Total Loans and Credit Extensions; Limitation; Exceptions; Limitations Based Upon Capital and Surplus. - Sec. 4202. (1) Except as otherwise provided in this section...
Section 487.14203 - Financing Real or Personal Property; Use of Proceeds for Purchase, Design, Manufacture, Construction, Repair, Modification, or Improvement; Liability for Defect. - Sec. 4203. A bank that makes a loan, the proceeds...
Section 487.14204 - Insurance; Hazard; Property and Casualty. - Sec. 4204. (1) A bank that requires a mortgagor to...
Section 487.14205 - Allowance for Bank Loan and Lease Losses; Charge Off of Debt. - Sec. 4205. Unless a debt constitutes a claim against a...
276-1999-4-3 - Part 3 Investments (487.14301...487.14310)
Section 487.14301 - Purchasing, Selling, Underwriting, and Holding Investment Securities. - Sec. 4301. (1) A bank may purchase, sell, underwrite, and...
Section 487.14302 - Purchase of Investment Securities. - Sec. 4302. (1) A bank may purchase investment securities for...
Section 487.14303 - Investment in Other Assets. - Sec. 4303. Notwithstanding any other section of this act, a...
Section 487.14304 - Bank Investment Authority; Purchasing or Holding Shares of Stock or Other Equity Interests. - Sec. 4304. (1) A bank shall not engage in a...
Section 487.14305 - Venture Capital Investments. - Sec. 4305. (1) Except as otherwise provided by this act,...
Section 487.14306 - Lease, Purchase, Holding, and Conveyance of Real Property. - Sec. 4306. A bank may lease, purchase, hold, and convey...
Section 487.14307 - Acquisition, Development, or Improvement of Real Property for Sale. - Sec. 4307. A bank may invest not more than 10%...
Section 487.14308 - Acquisition of Real Property for Use of Customer; Loan Secured by Real Property. - Sec. 4308. (1) A bank may lease, purchase, hold, and...
Section 487.14309 - Acquisition of Personal Property for Use of Customer; Loan Secured by Personal Property. - Sec. 4309. (1) A bank may lease, purchase, hold, and...
Section 487.14310 - Investment in Service Entity. - Sec. 4310. (1) As authorized by order or declaratory ruling...
276-1999-4-4 - Part 4 Trusts (487.14401...487.14406)
Section 487.14401 - Trust Powers; Conditions, Limitations, and Restrictions. - Sec. 4401. (1) Upon application, the commissioner may grant to...
Section 487.14402 - Definitions; Trust Service Agreement. - Sec. 4402. (1) As used in this section: (a) "Host...
Section 487.14403 - Trust Powers; Segregation of Assets Held in Fiduciary Capacity; Separate Books and Records; Commingling and Consolidation. - Sec. 4403. (1) A bank exercising a trust power as...
Section 487.14404 - Application for Full Fiduciary Powers; Considerations; Limited Trust Power. - Sec. 4404. (1) In acting upon applications for permission to...
Section 487.14405 - Investment of Trust Funds or Property; "Registered Investment Company" Defined; Bank Considered as Fiduciary. - Sec. 4405. (1) A bank shall invest any money or...
Section 487.14406 - Repealed. 2005, Act 195, Imd. Eff. Nov. 7, 2005. - Compiler's Notes: The repealed section pertained to filing suspicious activity...
276-1999-5 - Chapter 5 Foreign Banks (487.15101...487.15105)
276-1999-5-STRUCTURE - Structure (487.15101...487.15105)
Section 487.15101 - State Agency or State Foreign Bank Branch; Establishment and Operation by State Foreign Bank Branch. - Sec. 5101. (1) With the written approval of the commissioner,...
Section 487.15102 - Conversion of State Agency or State Foreign Bank Branch Into Federal Agency or Federal Branch. - Sec. 5102. (1) A state agency or state foreign bank...
Section 487.15103 - Termination of Authority to Operate State Agency or State Foreign Bank Branch. - Sec. 5103. Authority to operate a state agency, state foreign...
Section 487.15104 - Reports. - Sec. 5104. A foreign bank operating a state agency or...
Section 487.15105 - Operations of Foreign Bank at State Foreign Bank Branch or State Agency. - Sec. 5105. (1) Except as otherwise provided in this act...