There is a newer version of the Michigan Compiled Laws
2015 Michigan Compiled Laws
Chapter 489 - Savings and Loan Associations
Act 156 of 1964 SAVINGS AND LOAN ASSOCIATION ACT OF 1964 (489.501 - 489.920)
Section 489.858 Tax exemptions.
MI Comp L § 489.858 (2015) What's This?
489.858 Tax exemptions.
Sec. 458.
(1) All mortgages or other securities held by associations, are exempt from all municipal or other taxes under the laws of this state and all personal property owned by associations is exempt from taxation.
(2) Federal savings and loan associations and their members shall be subject to the same taxation and upon the same basis as state associations and their members.
History: 1964, Act 156, Eff. Jan. 1, 1965
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