Section 487.14310 – Investment in Service Entity.
487.14310 Investment in service entity. Sec. 4310. (1) As authorized by order or declaratory ruling of the commissioner, a bank may invest in service entities that engage in activities in which a bank is not authorized to engage. (2) The maximum aggregate investment by a bank in service entities shall be the lesser of 5% […]
Section 487.14308 – Acquisition of Real Property for Use of Customer; Loan Secured by Real Property.
487.14308 Acquisition of real property for use of customer; loan secured by real property. Sec. 4308. (1) A bank may lease, purchase, hold, and convey real property for the use of a customer by lease arrangement with the bank, but the acquisition of real property and leasing to a customer constitutes a loan secured by […]
Section 487.14309 – Acquisition of Personal Property for Use of Customer; Loan Secured by Personal Property.
487.14309 Acquisition of personal property for use of customer; loan secured by personal property. Sec. 4309. (1) A bank may lease, purchase, hold, and convey personal property for the use of a customer by lease arrangement with the bank, but the acquisition of personal property and leasing to a customer constitutes a loan secured by […]
Section 487.14301 – Purchasing, Selling, Underwriting, and Holding Investment Securities.
487.14301 Purchasing, selling, underwriting, and holding investment securities. Sec. 4301. (1) A bank may purchase, sell, underwrite, and hold investment securities that are obligations in the form of bonds, notes, or debentures of a type and to the extent permitted by this act. (2) A bank may hold, without limit, any of the following: (a) […]
Section 487.14302 – Purchase of Investment Securities.
487.14302 Purchase of investment securities. Sec. 4302. (1) A bank may purchase investment securities for its own account when in its prudent banking judgment, which may be based in part upon estimates that it believes to be reliable, it determines that there is adequate evidence that the obligor will be able to perform all it […]
Section 487.14303 – Investment in Other Assets.
487.14303 Investment in other assets. Sec. 4303. Notwithstanding any other section of this act, a bank may invest in other assets authorized by order or declaratory ruling of the commissioner. History: 1999, Act 276, Eff. Mar. 1, 2000
Section 487.14304 – Bank Investment Authority; Purchasing or Holding Shares of Stock or Other Equity Interests.
487.14304 Bank investment authority; purchasing or holding shares of stock or other equity interests. Sec. 4304. (1) A bank shall not engage in a transaction with respect to shares of the capital stock of a corporation unless specifically authorized under this act or by order or declaratory ruling of the director under this act. (2) […]
Section 487.14305 – Venture Capital Investments.
487.14305 Venture capital investments. Sec. 4305. (1) Except as otherwise provided by this act, a bank may make venture capital investments, and may invest in equity securities of a professional investor a majority of whose assets consists of venture capital investments. (2) If a bank makes a venture capital investment under subsection (1), an officer […]
Section 487.14306 – Lease, Purchase, Holding, and Conveyance of Real Property.
487.14306 Lease, purchase, holding, and conveyance of real property. Sec. 4306. A bank may lease, purchase, hold, and convey any of the following real property: (a) As necessary for the convenient transaction of its business, including space within its banking office buildings to rent as lessor to third parties. (b) As conveyed to it in […]
Section 487.14307 – Acquisition, Development, or Improvement of Real Property for Sale.
487.14307 Acquisition, development, or improvement of real property for sale. Sec. 4307. A bank may invest not more than 10% of its total assets in the acquisition and development of real property for sale, or for the improvement of real property by construction or rehabilitation of residential or commercial units for sale or rental purposes. […]