Sec. 212.
(1) A person shall not be excused from testifying or from producing any books, papers, records, or memoranda in any examination when ordered to do so by the commissioner, upon the ground that the testimony or evidence, documentary, or otherwise, may tend to incriminate him or her or subject him or her to a criminal penalty. An individual shall not be prosecuted or subjected to any penalty or forfeiture for or on account of any transaction, matter, or thing concerning which he or she is compelled, after having claimed his or her privilege against self-incrimination, to testify or produce evidence, documentary, or otherwise.
(2) An individual shall not be exempt from prosecution or punishment for perjury committed in testifying.
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.