Section 487.14109 – Bank Agent; Activities.
487.14109 Bank agent; activities. Sec. 4109. An agent of a bank described in section 4101(1)(e) may engage in any of the following activities: (a) Accept a deposit to an existing account and record the addition to the account or give other evidence of receipt as prescribed by the bank. (b) Accept a withdrawal form and […]
Section 487.14110 – 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.
487.14110 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. Sec. 4110. (1) A bank that owns, operates, or manages an automated teller machine located on the premises of a casino, casino enterprise, liquor store, or adult entertainment […]
Section 487.13909 – Consolidation or Merger; Position of Director, Officer, Employee, or Agent of Absorbed Depository Institution.
487.13909 Consolidation or merger; position of director, officer, employee, or agent of absorbed depository institution. Sec. 3909. For purposes of this section and sections 3904, 3905, 3906, 3907, 3908, and 3910, a person who is or was a director, officer, employee, or agent of a depository institution absorbed in a consolidation or merger or is […]
Section 487.13910 – Definitions; Person Acting in Best Interests of Bank or Shareholders.
487.13910 Definitions; person acting in best interests of bank or shareholders. Sec. 3910. (1) For the purposes of sections 3904, 3905, 3906, 3907, 3908, and 3909: (a) “Fines” includes any excise taxes assessed on a person with respect to an employee benefit plan. (b) “Other enterprise” includes employee benefit plans. (c) “Serving at the request […]
Section 487.13911 – Reports.
487.13911 Reports. Sec. 3911. (1) The commissioner may require reports from any bank if, in the commissioner’s judgment, they are necessary to inform the commissioner fully as to the condition of the bank. The commissioner shall give a bank at least 30 days’ notice in writing of the date by which the report is to […]
Section 487.13912 – Attachment or Execution.
487.13912 Attachment or execution. Sec. 3912. Attachment or execution shall not be issued against a bank or its property before final judgment in any suit, action, or proceeding involving the bank in any court. History: 1999, Act 276, Eff. Mar. 1, 2000
Section 487.13913 – Action Taken or Event Occurring on or Before November 29, 1995.
487.13913 Action taken or event occurring on or before November 29, 1995. Sec. 3913. A written agreement entered into under section 130b of former 1969 PA 319 shall remain in effect with regard to actions taken and events occurring on or before November 29, 1995. A cause of action shall not accrue under an agreement […]
Section 487.14101 – Banking Powers Generally.
487.14101 Banking powers generally. Sec. 4101. (1) Subject to the limitations and restrictions contained in this act or in a bank’s articles, the bank may engage in the business of banking and a business related or incidental to banking, and for that purpose, without specific mention in its articles, shall have and exercise the powers […]
Section 487.14102 – Safe Deposit and Storage Department; Lien for Unpaid Rental and Storage Charges.
487.14102 Safe deposit and storage department; lien for unpaid rental and storage charges. Sec. 4102. (1) If a bank operates a safe deposit and storage department, the legal liability of the bank on account of any loss to a customer shall not exceed the sum of $10,000.00 for any 1 box or compartment, including all […]
Section 487.14103 – Drafts or Bills of Exchange.
487.14103 Drafts or bills of exchange. Sec. 4103. (1) A bank may accept drafts or bills of exchange drawn upon it having not more than 6 months’ sight to run, exclusive of days of grace, if 1 or more of the following apply: (a) The drafts or bills of exchange grow out of transactions involving […]