Section 490.401 – Domestic Credit Union; Powers.
490.401 Domestic credit union; powers. Sec. 401. (1) A domestic credit union has the powers described in this section, specified or implied by this act, and specified in any other law of this state. (2) A domestic credit union has all of the following powers: (a) To enter into contracts. (b) To sue and be […]
Section 490.402 – Corporate Credit Union; Additional Powers.
490.402 Corporate credit union; additional powers. Sec. 402. (1) A corporate credit union organized under this act has all of the following powers in addition to the powers granted by this act to all domestic credit unions: (a) To accept funds, either as shares or deposits, from a domestic, foreign, or alien credit union, whether […]
Section 490.403 – Domestic Credit Union; Incidental Powers.
490.403 Domestic credit union; incidental powers. Sec. 403. A domestic credit union may exercise any incidental powers that are necessary or required to enable it to effectively carry out the business for which it is organized. History: 2003, Act 215, Eff. June 1, 2004