MCL - 354-1996-4

Chapter 487
Act 354 of 1996

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SAVINGS BANK ACT (EXCERPT)
Act 354 of 1996 Chapter 4
POWERS

Document	Type	Description
Section 487.3401	Section	Savings bank; powers.
Section 487.3402	Section	Purchase, design, manufacture, construction, repair, modification, or improvement of real property; use of loan proceeds; liability for defect.
Section 487.3403	Section	Purchase of corporation stock by savings bank; limitation on aggregate investments.
Section 487.3404	Section	Purchase of stock, or loans to, Michigan business development corporation.
Section 487.3405	Section	Venture capital investments; “professional investor” and “venture capital” defined.
Section 487.3406	Section	“Investment security” and “secretary” defined; purchase of investment securities.
Section 487.3407	Section	Acquisition, development, or improvement of real estate; limitation on investment of assets; powers of savings bank.
Section 487.3408	Section	Services performed by savings bank.
Section 487.3409	Section	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	Section	Investment in service entities.
Section 487.3411	Section	Powers granted in MCL 487.3401 and 487.3403 construed.
Section 487.3412	Section	Change in location of principal office.
Section 487.3413	Section	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	Section	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	Section	Savings bank with branch offices in foreign country.
Section 487.3416	Section	Savings bank as owner or lessor of personal property; lease payments as rent; taxes; prohibition.
Section 487.3417	Section	Savings bank with branch in another state.
Section 487.3418	Section	Loan production offices.
Section 487.3419	Section	Purchase or assumption of national or state chartered bank, savings bank, or association; operation as new branch.
Section 487.3420	Section	Discontinuing operations of branch or agency office; transfer of functions.
Section 487.3421	Section	Trust powers; conditions, limitations, and restrictions.
Section 487.3422	Section	Definitions; trust service agreements.
Section 487.3423	Section	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	Section	Fiduciary powers; considerations.
Section 487.3425	Section	Repealed. 2000, Act 482, Imd. Eff. Jan. 11, 2001.
Section 487.3426	Section	Fund or property held by savings bank as fiduciary; investments; “registered investment company” defined; funds considered as held in fiduciary capacity.
Section 487.3427	Section	Enforcement of MCL 487.3421 to 487.3426; orders or declaratory rulings.
Section 487.3428	Section	Safe deposit and storage department.
Section 487.3429	Section	Lease, purchase, holding, and conveyance of real estate.
Section 487.3430	Section	Interest and charges on loans and credit extensions.
Section 487.3431	Section	Drafts or bills of exchange.
Section 487.3432	Section	Loans and extensions of credit and leases; limitations; exceptions; definitions.
Section 487.3433	Section	Loans and extensions of credit; exceptions to limitations.
Section 487.3434	Section	Capital and surplus; limitations.
Section 487.3436	Section	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.