Sec. 2307.
Within 10 days after the date a person has been suspended from office or prohibited from participation in the conduct of the affairs of any institution under section 2306(3), the person may apply to the Ingham county circuit court or the circuit court for the county in which the principal office of the institution is located for a stay of the suspension or prohibition pending the completion of the administrative proceedings pursuant to the notice served upon the person under section 2306(1) or (2) and the court shall have jurisdiction to stay the suspension or prohibition.
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.