Michigan Compiled Laws
276-1999-4-1 - Part 1 General Provisions (487.14101...487.14111)
Section 487.14107 - Sale or Purchase of Bank Branch.

Sec. 4107.
(1) A bank may sell 1 or more of its branches, without selling all or substantially all of the bank, to another depository institution located in this state or in a state whose laws would permit a bank to purchase 1 or more branches in that state of the purchasing depository institution.
(2) A bank may purchase 1 or more branches of another depository institution, without purchasing all or substantially all of the depository institution.
(3) A bank that proposes to purchase 1 or more branches under subsection (2) shall provide notice to the commissioner under section 3711 before operating the purchased branch or branches.
History: 1999, Act 276, Eff. Mar. 1, 2000

Structure Michigan Compiled Laws