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. […]
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 487.14205 – Allowance for Bank Loan and Lease Losses; Charge Off of Debt.
487.14205 Allowance for bank loan and lease losses; charge off of debt. Sec. 4205. Unless a debt constitutes a claim against a solvent estate in probate, if the interest on a debt held by a bank is past due and unpaid for a period of 12 months, the bank shall charge off to its allowance […]
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 487.14106 – Purchase or Sale of Assets; Powers of Bank.
487.14106 Purchase or sale of assets; powers of bank. Sec. 4106. (1) With the approval of the commissioner, based upon an examination or other appropriate analysis of either the buying or selling organization, or both, and upon the affirmative vote of a majority of the members of its board of directors and of the holders […]
Section 487.14107 – Sale or Purchase of Bank Branch.
487.14107 Sale or purchase of bank branch. Sec. 4107. (1) A bank may sell 1 or more of its branches, without selling all or substantially all of the bank, to another depository institution located in this state or in a state whose laws would permit a bank to purchase 1 or more branches in that […]
Section 487.14108 – Pledging Bank Assets as Collateral Security.
487.14108 Pledging bank assets as collateral security. Sec. 4108. (1) Except as otherwise provided in this section, a bank or bank officer shall not give preference to a depositor or creditor by pledging the assets of the bank as collateral security or otherwise. (2) A bank may pledge its assets in an aggregate amount that […]