Sec. 225.
In connection with a proceeding under section 215, 216(1), or 217, the commissioner shall provide the appropriate federal supervisory authorities with notice of intent to institute a proceeding and the grounds for the proceeding. An institution or other party who is the subject of a notice or order issued by the commissioner under sections 215 to 225 shall not have standing to raise the requirements of section 224 or this section with respect to notifying federal supervisory authorities as ground for attacking the validity of a notice or order.
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.