Section 487.14403 – Trust Powers; Segregation of Assets Held in Fiduciary Capacity; Separate Books and Records; Commingling and Consolidation.
487.14403 Trust powers; segregation of assets held in fiduciary capacity; separate books and records; commingling and consolidation. Sec. 4403. (1) A bank exercising a trust power as provided in this section and sections 4401, 4402, 4404, and 4405 shall segregate all assets held in a fiduciary capacity from the general assets of the bank, shall […]
Section 487.14404 – Application for Full Fiduciary Powers; Considerations; Limited Trust Power.
487.14404 Application for full fiduciary powers; considerations; limited trust power. Sec. 4404. (1) In acting upon applications for permission to exercise full fiduciary powers as provided in section 4401, the commissioner shall take into consideration the sufficiency of the capital and surplus of the applying bank and any other facts or circumstances the commissioner considers […]
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 487.14303 – 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. […]