Sec. 2303.
(1) Except with respect to rules promulgated under section 2201, a cease and desist order made under sections 2304 to 2314, an order made on an application seeking approval of the commissioner under section 2302(1), or an objection issued under section 3711 or 3713, an institution that is dissatisfied with an order, ruling, or finding issued by the commissioner may request a reconsideration of the order, ruling, or finding within 10 days after the issuance of the order, ruling, or finding. The commissioner may conduct a formal hearing before the issuance of an order, ruling, or finding. Within 30 days after the receipt of a written request for reconsideration, the commissioner shall hold a formal hearing unless a formal hearing has been held before the issuance of the order, ruling, or finding.
(2) A hearing held under subsection (1) shall be conducted under the administrative procedures act of 1969.
History: 1999, Act 276, Eff. Mar. 1, 2000
Structure Michigan Compiled Laws
Chapter 487 - Financial Institutions
Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)
276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)
276-1999-2-3 - Part 3 Enforcment Powers (487.12301...487.12315)
Section 487.12301 - Subpoena Powers.
Section 487.12302 - Application.
Section 487.12303 - Reconsideration of Order, Ruling, or Finding; Hearing.
Section 487.12305 - Temporary Cease and Desist Order.
Section 487.12306 - Conduct Constituting Breach of Fiduciary Duty; Order of Removal or Prohibition.
Section 487.12307 - Stay of Suspension or Prohibition; Issuance by Court.
Section 487.12308 - Conduct Involving Felony or Misdemeanor Charge; Order of Removal or Prohibition.
Section 487.12309 - Quorum of Board of Directors.
Section 487.12311 - Enforcement Powers; Jurisdiction of Court.
Section 487.12312 - Prohibited Conduct; Fine.
Section 487.12313 - Service of Notice or Order.
Section 487.12314 - Notice to Federal Supervisory Authorities.