Sec. 205.
(1) The commissioner and all deputies, agents, and employees of the office of financial and insurance services shall keep secret all facts and information obtained in the course of their duties, except if the person is required under law to report upon, take official action, or testify in any proceedings regarding the affairs of a credit union. This subsection applies to all former commissioners, deputies, agents, and employees of the office of financial and insurance services.
(2) This section does not apply to, and does not prohibit the furnishing of information or documents to, any federal, foreign, or out-of-state credit union regulatory agencies, and is not applicable to disclosures made in the public interest by the commissioner, at his or her discretion.
History: 2003, Act 215, Eff. June 1, 2004
Structure Michigan Compiled Laws
Act 215 of 2003 - Credit Union Act (490.101 - 490.601)
Article 2 - Supervision by Commissioner (490.201...490.251)
215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)
Section 490.205 - Disclosure of Information.
Section 490.206 - Rules; Orders; Declaratory Rulings.
Section 490.208 - Application for Additional Powers by Domestic Credit Unions.
Section 490.209 - Issuance of Subpoena by Circuit Court.
Section 490.211 - Temporary Cease and Desist Order; Conditions; Injunction for Setting Aside Order.
Section 490.213 - Stay of Suspension or Prohibition.
Section 490.215 - Administrative Hearing.
Section 490.216 - Enforcement of Notice or Order; Court Jurisdiction.
Section 490.219 - Delivery of Order or Written Notice; Methods.