Sec. 3101.
Not less than 5 natural persons, a majority of whom are residents of this state and citizens of the United States or its territories or possessions, or a bank holding company, may file an application to organize a bank under this act.
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)
276-1999-3 - Chapter 3 Bank Organization and Structure (487.13101...487.13913)
276-1999-3-1 - Part 1 Formation (487.13101...487.13108)
Section 487.13101 - Bank Organization Generally.
Section 487.13102 - Bank Organization; Application.
Section 487.13103 - Organization of Depository Institutions Generally.
Section 487.13104 - Expenses of Incorporators; Reimbursement.
Section 487.13105 - Bank as Body Corporate; Authorization.
Section 487.13106 - Commencement of Business.