Sec. 3705.
(1) A consolidated bank or consolidated organization may operate all branches and principal offices located in this state of the consolidating organizations without providing the notice required by section 3711(1).
(2) A bank, out-of-state bank, national bank, association, or savings bank operating a branch in this state as the result of a consolidation shall provide notice of that operation to the commissioner within 30 days after the effective date of the consolidation.
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)
276-1999-3-7 - Part 7 Consolidation and Conversion (487.13701...487.13714)
Section 487.13701 - Consolidated Bank; Formation.
Section 487.13702 - Consolidated Organization.
Section 487.13703 - Consolidated Bank; Rights, Privileges, and Powers.
Section 487.13704 - Service of Process.
Section 487.13705 - Notice of Operation.
Section 487.13706 - Definitions; Applicable Provisions.
Section 487.13707 - Definitions; Consolidation Agreement; Approval of Terms and Conditions.
Section 487.13709 - Conversion of Depository Institution.
Section 487.13710 - Effect of Conversion.
Section 487.13711 - Branch Services.
Section 487.13712 - Discontinuing Branch Operations; Transfer of Functions to Principal Office.
Section 487.13713 - Principal Office; Relocation.
Section 487.13714 - Branch Office in Foreign Country; Applicable Provisions.