Sec. 201.
(1) The financial institutions bureau shall have jurisdiction over and execute the laws relating to savings banks transacting business in this state.
(2) The commissioner shall maximize the capacity of savings banks in this state to offer convenient and efficient financial services, to promote home ownership and economic development, and to ensure that savings banks remain competitive with other types of financial institutions and providers of financial services.
(3) This act shall be liberally construed except for those provisions that relate to safety and soundness of operations, investments, and management.
History: 1996, Act 354, Imd. Eff. July 1, 1996
Structure Michigan Compiled Laws
Chapter 487 - Financial Institutions
Act 354 of 1996 - Savings Bank Act (487.3101 - 487.3804)
354-1996-2 - Chapter 2 Administration (487.3201...487.3226)
Section 487.3202 - Prohibited Conduct.
Section 487.3203 - Federal Insurance of Deposits Required.
Section 487.3206 - Commissioner, Deputy Commissioner, or Examiner; Prohibited Conduct.
Section 487.3207 - Commissioner, Deputy Commissioner, or Examiner; Civil Liability.
Section 487.3208 - Rules, Orders, and Declaratory Rulings.
Section 487.3209 - Savings Banks and Entities Subject to Examination by Commissioner.
Section 487.3210 - Schedule of Supervisory Fees; Initial Supervisory Fee.
Section 487.3212 - Privilege Against Self-Incrimination; Perjury.
Section 487.3213 - Confidentiality; Exception.
Section 487.3214 - Application for Approval; Requirements; Appeal.
Section 487.3218 - Stay of Suspension or Prohibition; Application to Circuit Court.
Section 487.3220 - Board of Directors; Less Than Quorum.
Section 487.3222 - Notice or Order; Jurisdiction of Court.
Section 487.3223 - Prohibited Acts; Fine; Limitation.
Section 487.3224 - Service of Notice; Intent to Issue Cease and Desist Order; Notice to Governor.