Section 490.209 – Issuance of Subpoena by Circuit Court.
490.209 Issuance of subpoena by circuit court. Sec. 209. The commissioner may petition the circuit court for the county of Ingham or the circuit court in the jurisdiction where an examination is being conducted to issue a subpoena on behalf of the commissioner that requires the person subpoenaed to appear and testify under oath to […]
Section 490.210 – Notice of Charges; Issuance and Service; Statement of Facts; Hearing; Issuance of Cease and Desist Order; Enforcement; Violation by Foreign or Federal Credit Union.
490.210 Notice of charges; issuance and service; statement of facts; hearing; issuance of cease and desist order; enforcement; violation by foreign or federal credit union. Sec. 210. (1) If in the opinion of the director a domestic credit union is engaging, has engaged, or is about to engage in an unsafe or unsound practice in […]
Section 490.211 – Temporary Cease and Desist Order; Conditions; Injunction for Setting Aside Order.
490.211 Temporary cease and desist order; conditions; injunction for setting aside order. Sec. 211. (1) If the commissioner determines that a violation or threatened violation or an unsafe or unsound practice or practices specified in the notice of charges served upon a domestic credit union under section 210, or the continuation of the violation or […]
Section 490.212 – Notice of Intention to Remove Person From Office or to Prohibit Participation in Conduct of Affairs; Conditions; Hearing; Order; Issuance; Basis; Enforcement.
490.212 Notice of intention to remove person from office or to prohibit participation in conduct of affairs; conditions; hearing; order; issuance; basis; enforcement. Sec. 212. (1) If in the opinion of the commissioner a director, officer, or employee of a domestic credit union, or any other person who participates in the conduct of the affairs […]
Section 490.213 – Stay of Suspension or Prohibition.
490.213 Stay of suspension or prohibition. Sec. 213. Within 10 days after the date a person has been suspended from office or prohibited from participation in the conduct of the affairs of any domestic credit union under section 212(3), the person may apply to the circuit court for Ingham county or the circuit court for […]
Section 490.214 – Individual Charged With Crime Involving Dishonesty or Breach of Trust; Suspension From Office or Prohibition From Participation in Conduct of Affairs; Finding of Not Guilty or Other Disposition.
490.214 Individual charged with crime involving dishonesty or breach of trust; suspension from office or prohibition from participation in conduct of affairs; finding of not guilty or other disposition. Sec. 214. (1) If an individual who participates in the conduct of the affairs of a domestic credit union is charged in any information, indictment, warrant, […]
Section 490.201 – Administration and Supervision by Director; Annual Operating Fee; Limitation; Report Filed by Domestic Credit Union; Delinquent Fee; Waiver; Amendment to Bylaws or Certificate of Organization; Examination of Accounts, Books, and Records; “Records” Defined.
490.201 Administration and supervision by director; annual operating fee; limitation; report filed by domestic credit union; delinquent fee; waiver; amendment to bylaws or certificate of organization; examination of accounts, books, and records; “records” defined. Sec. 201. (1) The director shall administer the laws of this state relating to credit unions that are transacting business in […]
Section 490.202 – Fee, Fine, or Other Money Received or Collected by Director; Disposition; Establishment of Credit Union Regulatory Fund.
490.202 Fee, fine, or other money received or collected by director; disposition; establishment of credit union regulatory fund. Sec. 202. (1) A fee, a civil or administrative fine, or any other money received or collected by the director or the department under this act, except a fine imposed for a violation of section 217, is […]
Section 490.203 – Office of Financial and Insurance Services; Hearing or Proceeding; Document Retention; Order or Ruling.
490.203 Office of financial and insurance services; hearing or proceeding; document retention; order or ruling. Sec. 203. (1) Any hearing or other proceeding pending before the office of financial and insurance services under former 1925 PA 285 before the effective date of this act is transferred to the office of financial and insurance services under […]
Section 490.204 – Immunity.
490.204 Immunity. Sec. 204. The commissioner and the other employees of the office of financial and insurance services are not liable in any civil action for damages for any act done or omitted in performing the functions of their office under this act to the same extent protected by the immunity conferred by 1964 PA […]