2006 Michigan Compiled Laws - 307-1980-11

SAVINGS AND LOAN ACT OF 1980 (EXCERPT)
Act 307 of 1980 Article 11

Document	Description
Section 491.1100	Sale of savings accounts; exemption from securities laws.
Section 491.1102	Acknowledgments or proofs of written instruments by public officer; validity.
Section 491.1104	Rights of association to take action to avoid loss.
Section 491.1106	Violation as misdemeanor; penalty.
Section 491.1108	False or derogatory statement or rumor as misdemeanor; penalty.
Section 491.1110	Laws regulating business and affairs of associations or federal associations.
Section 491.1112	Federal associations, service corporations, members, and depositors; rights, powers, privileges, benefits, immunities, and exemptions.
Section 491.1114	Foreign associations or agents; law governing transaction of business in state.
Section 491.1116	Foreign association; conditions to transaction of business in state.
Section 491.1118	Foreign association; validity of certificate of authority; conditions to renewal of certificate.
Section 491.1119	Definitions; control of savings association or another holding company; location of savings association; meaning of state chartered savings association; charter or acquisition of Michigan associations or Michigan holding companies by out-of-state association or out-of-state holding company; opening or acquiring branch offices; conditions; form, contents, and approval of application; charter or acquisition of savings associations by Michigan association or Michigan holding company; opening or acquiring branch offices; filing and approval of application; requirements; determination; powers or privileges of acquired savings association not affected; authority of holding company not impaired or affected; comments on application by supervisor; agreement as condition of approval; rules; assessment of composite records; excessive interest rates; reciprocity.
Section 491.1120	Foreign association; ownership of loans or participations or interests in loans secured by mortgages of real estate.
Section 491.1122	Foreign association; examination of business transacted in state; expense; certified report of examination.
Section 491.1124	Foreign association; grounds for supervisory revocation of certificate of authority; notice of revocation; further payments prohibited; appeal.
Section 491.1126	Foreign association; compliance with act; void contracts; violation or noncompliance; amount of civil fine; recovery and disposition of fine.
Section 491.1128	Conduct constituting misdemeanor; penalty; disposition of fines.
Section 491.1130	Association incorporated before effective date of act; name, rights, powers, privileges, and immunities; articles, charter, bylaws, constitution, or rules; contractual obligations; duties, liabilities, disabilities, and restrictions; actions or penalties.
Section 491.1132	Enforcement of obligations contracted before effective date of act.
Section 491.1134	Fees.
Section 491.1135	Repealed. 2005, Act 193, Imd. Eff. Nov. 7, 2005.

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