Sec. 2314.
In connection with a proceeding under section 2304, 2305(1), or 2306, the commissioner shall provide the appropriate federal supervisory authorities with notice of intent to institute a proceeding and the grounds for the proceedings. An institution or other party that is the subject of any notice or order issued by the commissioner under section 2304, 2305, 2306, 2308, or 2310 shall not have standing to raise the requirements of section 2313 or this section with respect to notifying federal supervisory authorities as ground for attacking the validity of any notice or order.
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.