There is a newer version of the Michigan Compiled Laws
2010 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)
SAVINGS BANK ACT (EXCERPT)Act 354 of 1996 Chapter 2
ADMINISTRATION
- Section 487.3201 - Financial institutions bureau; jurisdiction; duties of commissioner; construction of act.
- Section 487.3202 - Prohibited conduct.
- Section 487.3203 - Federal insurance of deposits required.
- Section 487.3204 - Savings bank; asset tests; loans for domestic residential housing; failure to satisfy asset tests.
- Section 487.3205 - Appointment of examiners and employees; payment of compensation, travel, and expenses.
- 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 487.3211 - Circuit court subpoena to appear; petition by commissioner; scope; failure to appear as contempt.
- Section 487.3212 - Privilege against self-incrimination; perjury.
- Section 487.3213 - Confidentiality; exception.
- Section 487.3214 - Application for approval; requirements; appeal.
- Section 487.3215 - Unsafe or unsound practice or violation; notice of charges; hearing; order to cease and desist; effect and enforcement; out-of-state bank branch.
- Section 487.3216 - Temporary cease and desist order; effective and enforceable; injunction to set aside, limit, or suspend order.
- Section 487.3217 - Intent by commissioner to remove director or officer from office; notice; suspension or prohibition; effective date; service of copies of notice; statement of facts; hearing; issuance of order; effect and enforcement.
- Section 487.3218 - Stay of suspension or prohibition; application to circuit court.
- Section 487.3219 - Felony charge involving dishonesty or breach of trust by director or officer; suspension or prohibition; duration; entry of conviction; order of removal from office or prohibition; service of copy; finding of not guilty or other disposition.
- Section 487.3220 - Board of directors; less than quorum.
- Section 487.3221 - Hearing; decision; review; modifying, terminating, or setting aside order; commencement of proceedings not as stay of order.
- 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.
- Section 487.3225 - Proceedings under MCL 487.3215, 487.3216(1), or 487.3217; notice to federal authorities of intent to institute proceedings.
- Section 487.3226 - Definitions.
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