There is a newer version of the Michigan Compiled Laws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)
354-1996-6 - CHAPTER 6 RECEIVERSHIPS AND CONSERVATORSHIPS (487.3601...487.3608)
Section 487.3603 - Procedures for liquidation; limitation.
SAVINGS BANK ACT (EXCERPT)Act 354 of 1996
487.3603 Procedures for liquidation; limitation.
Sec. 603.
The full and exclusive procedures for the liquidation of a savings bank under this act shall be the procedures prescribed in this act and a receiver or other liquidating agent shall not be appointed for such purpose or for any savings bank or its assets and property except as expressly provided in this act.
History: 1996, Act 354, Imd. Eff. July 1, 1996
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