Sec. 2410.
(1) If satisfied that it may be done safely and that it would be in the public interest, the commissioner may terminate a conservatorship and permit the bank to resume the transaction of its business subject to terms, conditions, restrictions, and limitations as he or she may prescribe.
(2) If the commissioner determines that it would be in the public interest, the commissioner may terminate a conservatorship and apply for the appointment of a receiver for the bank as provided in section 2402.
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)
276-1999-2-4 - Part 4 Receiverships and Conservatorships (487.12401...487.12410)
Section 487.12401 - Liquidation; Receiver or Other Liquidating Agent.
Section 487.12402 - Appointment of Receiver; Conditions; Procedures.
Section 487.12403 - Receiver; Duties; Powers.
Section 487.12404 - Lien on Property or Assets; Voidable Transfer.
Section 487.12406 - Conservator; Appointment; Bond and Security; Qualifications; Expenses.
Section 487.12407 - Conservator; Rights, Powers, and Privileges.
Section 487.12408 - Deposits Received While Bank in Conservatorship.
Section 487.12409 - Authority of Conservator to Borrow Money; Purpose.