There is a newer version of the Michigan Compiled Laws
2014 Michigan Compiled Laws
Chapter 487 - FINANCIAL INSTITUTIONS
Act 354 of 1996 SAVINGS BANK ACT (487.3101 - 487.3804)***** 487.3702 SUBDIVISION (a) DOES NOT APPLY AFTER MAY 31, 1997: See subdivision (a) of 487.3702 *****
354-1996-4 CHAPTER 4 POWERS (487.3401...487.3436)
- Section 487.3401 Savings bank; powers.
- Section 487.3402 Purchase, design, manufacture, construction, repair, modification, or improvement of real property; use of loan proceeds; liability for defect.
- Section 487.3403 Purchase of corporation stock by savings bank; limitation on aggregate investments.
- Section 487.3404 Purchase of stock, or loans to, Michigan business development corporation.
- Section 487.3405 Venture capital investments; “professional investor” and “venture capital” defined.
- Section 487.3406 “Investment security” and “secretary” defined; purchase of investment securities.
- Section 487.3407 Acquisition, development, or improvement of real estate; limitation on investment of assets; powers of savings bank.
- Section 487.3408 Services performed by savings bank.
- Section 487.3409 Savings bank engaged in real estate brokerage business; notice of licensure or ownership; prohibited acts; disclosure to credit applicant; violation of section; orders; limitation.
- Section 487.3410 Investment in service entities.
- Section 487.3411 Powers granted in MCL 487.3401 and 487.3403 construed.
- Section 487.3412 Change in location of principal office.
- Section 487.3413 Transactions relating to capital stock of corporation; authorization; purchase and sale of securities and stock; loan or discount; purchase or holding of own stock.
- Section 487.3414 Savings bank possessing capital and surplus more than $1,000,000.00; powers; application; savings bank operating foreign branches; restrictions and limitations; further powers.
- Section 487.3415 Savings bank with branch offices in foreign country.
- Section 487.3416 Savings bank as owner or lessor of personal property; lease payments as rent; taxes; prohibition.
- Section 487.3417 Savings bank with branch in another state.
- Section 487.3418 Loan production offices.
- Section 487.3419 Purchase or assumption of national or state chartered bank, savings bank, or association; operation as new branch.
- Section 487.3420 Discontinuing operations of branch or agency office; transfer of functions.
- Section 487.3421 Trust powers; conditions, limitations, and restrictions.
- Section 487.3422 Definitions; trust service agreements.
- Section 487.3423 Separation of trust department business from commercial bank business; commingled and consolidated funds; limitation; lien on securities in event of savings bank failure.
- Section 487.3424 Fiduciary powers; considerations.
- Section 487.3425 Repealed. 2000, Act 482, Imd. Eff. Jan. 11, 2001.
- Section 487.3426 Fund or property held by savings bank as fiduciary; investments; “registered investment company” defined; funds considered as held in fiduciary capacity.
- Section 487.3427 Enforcement of MCL 487.3421 to 487.3426; orders or declaratory rulings.
- Section 487.3428 Safe deposit and storage department.
- Section 487.3429 Lease, purchase, holding, and conveyance of real estate.
- Section 487.3430 Interest and charges on loans and credit extensions.
- Section 487.3431 Drafts or bills of exchange.
- Section 487.3432 Loans and extensions of credit and leases; limitations; exceptions; definitions.
- Section 487.3433 Loans and extensions of credit; exceptions to limitations.
- Section 487.3434 Capital and surplus; limitations.
- Section 487.3436 Automatic teller machine located on premises of casino, casino enterprise, liquor store, or adult entertainment establishment; preventing access to cash benefits from Michigan bridge card; definitions.
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