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Act 354 of 1996
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SAVINGS BANK ACT

Act 354 of 1996

AN ACT to codify the laws relating to savings banks; to provide for incorporation, regulation, supervision, and internal administration of savings banks; to prescribe the rights, powers, and immunities of savings banks; to prescribe the powers and duties of certain state agencies and officials; to provide for remedies; and to prescribe penalties.


History: 1996, Act 354, Imd. Eff. July 1, 1996
Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.


© 2009 Legislative Council, State of Michigan

The People of the State of Michigan enact:

DocumentTypeDescription
354-1996-1DivisionCHAPTER 1 SHORT TITLE AND DEFINITIONS (487.3101...487.3103)
354-1996-2DivisionCHAPTER 2 ADMINISTRATION (487.3201...487.3226)
354-1996-3DivisionCHAPTER 3 CORPORATE STRUCTURE (487.3301...487.3339)
354-1996-4DivisionCHAPTER 4 POWERS (487.3401...487.3436)
354-1996-5DivisionCHAPTER 5 REGULATION (487.3501...487.3514)
354-1996-6DivisionCHAPTER 6 RECEIVERSHIPS AND CONSERVATORSHIPS (487.3601...487.3608)
354-1996-7DivisionCHAPTER 7 CONSOLIDATIONS, MERGERS, AND CONVERSIONS (487.3701...487.3715)
354-1996-8DivisionCHAPTER 8 GENERAL PROVISIONS, EXEMPTION FROM TAXATION (487.3801...487.3804)