Michigan Statutes

Chapter 487

Act 2 of 1935 - LOANS UNDER NATIONAL HOUSING ACT (487.751 - 487.753)
- Section 487.751 - National housing act; state financial institutes' authorized transactions; collateral.
- Section 487.752 - Construction of act as to effect of state laws.
- Section 487.753 - Declaration of necessity.
Act 29 of 1932 (1st Ex. Sess.) - Repealed-RECEIVER OF PRIVATE BANK (487.761 - 487.761)
Act 53 of 1978 - STATUTORY JOINT ACCOUNT ACT (487.711 - 487.719)
- Section 487.711 - Short title.
- Section 487.712 - Meanings of words and phrases.
- Section 487.713 - Definitions.
- Section 487.714 - Additional definitions.
- Section 487.715 - Statutory joint account; creation; signing contract; form of contract; acknowledging receipt of contract; adding additional parties; modifying form of contract.
- Section 487.716 - Nature and effect of statutory joint accounts; failure to answer question in contract.
- Section 487.717 - Withdrawals of funds; liability of financial institution; deposits subject to setoff.
- Section 487.718 - Deposits subject to rights of creditors; laws applicable to transfers in fraud of creditors; claims against insolvent estate of deceased owner of statutory joint account.
- Section 487.719 - Payment of widow's allowance or allowance for dependent children upon death of person owning deposits in statutory joint account.
Act 76 of 1979 - Repealed-MICHIGAN BUSINESS DEVELOPMENT CORPORATION (487.871 - 487.891)
Act 89 of 1986 - MICHIGAN BIDCO ACT (487.1101 - 487.2001)
- 89-1986-1 - ARTICLE 1 SHORT TITLE, PURPOSES, AND DEFINITIONS (487.1101...487.1106)
- 89-1986-10 - ARTICLE 10 REPEAL (487.2001...487.2001)
- 89-1986-2 - ARTICLE 2 REGULATION, REPORTING, AND EXAMINATION (487.1201...487.1217)
- 89-1986-3 - ARTICLE 3 LICENSING (487.1301...487.1317)
- 89-1986-4 - ARTICLE 4 CORPORATE MATTERS (487.1401...487.1407)
- 89-1986-5 - ARTICLE 5 TRANSACTION OF BUSINESS (487.1501...487.1513)
- 89-1986-6 - ARTICLE 6 MERGERS AND ACQUISITIONS (487.1601...487.1603)
- 89-1986-7 - ARTICLE 7 ENFORCEMENT (487.1701...487.1719)
- 89-1986-8 - ARTICLE 8 CERTAIN UNLAWFUL ACTIVITIES (487.1801...487.1819)
- 89-1986-9 - ARTICLE 9 GENERAL PROVISIONS (487.1901...487.1905)
Act 95 of 1907 - Repealed-FORGED OR RAISED CHECKS (487.661 - 487.661)
Act 117 of 1963 - Repealed-BUSINESS DEVELOPMENT CORPORATIONS (487.851 - 487.867)
Act 136 of 1960 - Repealed-SALE OF CHECKS ACT (487.901 - 487.916)
Act 146 of 1941 - U.S. DEFENSE SAVINGS BONDS (487.731 - 487.732)
- Section 487.731 - U.S. defense savings bonds; banks and trust companies authorized as issuing agent for sale of; deposit or pledge of assets.
- Section 487.732 - Pledging of assets; limitation of financial institutions act not otherwise affected.
Act 158 of 1956 - Repealed-DEVELOPMENT CREDIT CORPORATIONS (487.831 - 487.848)
Act 160 of 1859 - BROKERS AND EXCHANGE DEALERS (487.801 - 487.807)
- Section 487.801 - Certificate of brokers; necessity; filing with county clerk; contents; public inspection.
- Section 487.802 - Certificate of brokers; new certificate, cause, prior liability.
- Section 487.803 - Certificate of brokers; evidence of facts.
- Section 487.804 - Violation of act; penalty.
- Section 487.806 - Advertisement or representation of nature of business; violation, penalty; exception.
- Section 487.807 - Violation of act; procedure for collection of penalties.
Act 161 of 1988 - CONSUMER FINANCIAL SERVICES ACT (487.2051 - 487.2072)
- Section 487.2051 - Short title.
- Section 487.2052 - Definitions.
- Section 487.2053 - License required to engage in business activity; exceptions.
- Section 487.2054 - License application.
- Section 487.2055 - License fee; investigation fee; financial statements; net worth requirements.
- Section 487.2056 - Surety bond or letter of credit.
- Section 487.2057 - Investigation of license applicant by commissioner; issuance and delivery of license; expiration of license; renewal of license; fee; penalty for delinquent payment.
- Section 487.2058 - License certificate; availability of copy; transferability; changing name or place of business; operating one place of business under same license; additional place of business; cea
- Section 487.2059 - Compliance; exemption of licensee from certain provisions of financial licensing acts; purchase of certain contracts; loans; employment of individual as loan officer to originate mo
- Section 487.2060 - Suspension or revocation of license; notice; hearing; determination; appeal; grounds for suspending, revoking, or refusing to renew license; suspension or revocation of activities;
- Section 487.2060a - Request for reconsideration.
- Section 487.2060b - Hearing; judicial review.
- Section 487.2060c - Enforcement of notice or order.
- Section 487.2060d - Summary suspension; order; hearing; record.
- Section 487.2060e - Summary suspension order, cease and desist order, or injunctive relief as additional legal action.
- Section 487.2060f - Investigation or examination by commissioner; complaint or action; suspension of license; request for hearing; duration of suspension.
- Section 487.2060g - Fraud or money laundering; definitions.
- Section 487.2060h - Hearing; decision; findings; judicial review; stay.
- Section 487.2060i - Enforcement of order; jurisdiction.
- Section 487.2060j - Violation as misdemeanor; penalty.
- Section 487.2060k - Violation of order; exceptions.
- Section 487.2061 - Annual schedule of fees; fees nonrefundable; action for recovery of fees or penalties; disposition of money received.
- Section 487.2062 - Investigation of business activities; examination of books, accounts, records, and files; additional reports; audit and management letter.
- Section 487.2063 - Repealed. 1999, Act 275, Imd. Eff. Jan. 5, 2000.
- Section 487.2064 - Records.
- Section 487.2065 - Annual report; failure to file report; penalty.
- Section 487.2066 - Conservatorship or receivership.
- Section 487.2066a - Licensee engaged in loan servicing activities; appointment of conservator or receiver.
- Section 487.2066b - Powers and duties of conservator or receiver.
- Section 487.2067 - Prohibited activities or practices.
- Section 487.2068 - Rules.
- Section 487.2069 - Obligation of contract party not impaired or affected.
- Section 487.2070 - Action by person, county prosecuting attorney, or attorney general.
- Section 487.2071 - Effective date.
- Section 487.2072 - Conditional effective date.
Act 165 of 1865 - Repealed-MARKING COUNTERFEIT, ALTERED, OR WORTHLESS BILLS (487.651 - 487.652)
Act 190 of 1991 - STATE EMPLOYEE PAYROLL DEDUCTION PROGRAM (487.2101 - 487.2105)
- Section 487.2101 - Definitions.
- Section 487.2102 - Enrollment in distribution system for direct deposit of retirement benefit with financial institution; electronic fund transfer of state college and university payments.
- Section 487.2103 - Establishment of criteria and distribution system for participation by financial institution.
- Section 487.2104 - Rules; participation prohibited under certain conditions.
- Section 487.2105 - Fee; limitation; prohibition.
Act 232 of 1978 - SUSPENSION OF BUSINESS OF BANKS AND SAVINGS AND LOAN ASSOCIATIONS (487.941 - 487.946)
- Section 487.941 - Definitions.
- Section 487.942 - Authorizing or ordering financial institutions to close offices because of existing or impending emergency; duration; advising governor; authorization to close financial institution
- Section 487.943 - Determination not to open or to close office of financial institution during emergency.
- Section 487.944 - Notice of closing.
- Section 487.945 - Period financial institution closed as legal holiday.
- Section 487.946 - Obligations to employees not altered.
Act 240 of 1931 - Repealed-THE BANK COLLECTION CODE (487.601 - 487.617)
Act 244 of 2005 - DEFERRED PRESENTMENT SERVICE TRANSACTIONS ACT (487.2121 - 487.2173)
- 244-2005-1 - ARTICLE 1 (487.2121...487.2122)
- 244-2005-2 - ARTICLE 2 (487.2131...487.2142)
- 244-2005-3 - ARTICLE 3 (487.2151...487.2160)
- 244-2005-4 - ARTICLE 4 (487.2165...487.2173)
Act 248 of 1909 - PAYMENT OF DEPOSITS (487.701 - 487.703)
- Section 487.701 - Minor's deposit; payment; receipt or acquittance sufficient.
- Section 487.702 - Trust deposit; death of trustees; payment of deposit; receipt or acquittance as release and discharge.
- Section 487.703 - Deposit in name of joint beneficiaries; payment; receipt sufficient; deposits made payable to survivor; prima facie evidence.
Act 250 of 2006 - MONEY TRANSMISSION SERVICES ACT (487.1001 - 487.1047)
- Section 487.1001 - Short title.
- Section 487.1002 - Definitions; A to L.
- Section 487.1003 - Definitions; M to T.
- Section 487.1004 - Applicability of act.
- Section 487.1011 - Money transmission services; license required; exception.
- Section 487.1012 - License application; form; information required.
- Section 487.1013 - Financial statements; net worth; qualification to do business; application fee; surety bond; aggregate liability of surety; limitation.
- Section 487.1014 - Investigation; completed application; time period; issuance of license; fee; extension of time period; denial; request for hearing.
- Section 487.1015 - Fee schedule; expiration and renewal of license.
- Section 487.1016 - Travel expenses; recovery of fees and fines; collection; disposition.
- Section 487.1021 - Information obtained in examination or investigation; disclosure prohibited.
- Section 487.1022 - Joint examination or investigation.
- Section 487.1023 - Changed information; filing; events requiring filing of report.
- Section 487.1024 - Proposed change of control of licensee; request for approval; additional information; approval by commissioner; determination.
- Section 487.1025 - Records.
- Section 487.1026 - Disclosure of information.
- Section 487.1031 - Permissible investments.
- Section 487.1032 - Investments permitted under MCL 487.1031; limitation.
- Section 487.1033 - Agreement between licensee and authorized delegate.
- Section 487.1034 - Authorized delegate; prohibited conduct; duties.
- Section 487.1041 - Denying, suspending, not renewing, or revoking license; placing license in receivership; revoking designation of authorized delegate; conditions.
- Section 487.1042 - Violations; penalties; restitution.
- Section 487.1043 - Summary suspension order.
- Section 487.1044 - Cease and desist order.
- Section 487.1045 - Rules.
- Section 487.1046 - Civil fine.
- Section 487.1047 - Order suspending or prohibiting person from being licensee and from being employed by, agent of, or control person of licensee.
Act 276 of 1999 - BANKING CODE OF 1999 (487.11101 - 487.15105)
- 276-1999-1 - CHAPTER 1 (487.11101...487.11203)
- 276-1999-2 - CHAPTER 2 FINANCIAL INSTITUTIONS BUREAU (487.12101...487.12410)
- 276-1999-3 - CHAPTER 3 BANK ORGANIZATION AND STRUCTURE (487.13101...487.13913)
- 276-1999-4 - CHAPTER 4 BANKING POWERS (487.14101...487.14406)
- 276-1999-5 - CHAPTER 5 FOREIGN BANKS (487.15101...487.15105)
Act 319 of 1969 - Repealed-BANKING CODE OF 1969 (487.301 - 487.598)
Act 330 of 1939 - JOINT SAFE DEPOSIT BOX (487.721 - 487.721)
- Section 487.721 - Safe deposit box rented to joint holders; rights of various holders and survivors; exceptions.
Act 348 of 1925 - Repealed-REVOCATION, COUNTERMAND, OR STOP-PAYMENT ORDER (487.681 - 487.682)
Act 349 of 1925 - ADVERSE CLAIM TO BANK DEPOSIT (487.691 - 487.691)
- Section 487.691 - Adverse claim to bank deposit; notice; restraining order; exception.
Act 354 of 1996 - SAVINGS BANK ACT (487.3101 - 487.3804)
- 354-1996-1 - CHAPTER 1 SHORT TITLE AND DEFINITIONS (487.3101...487.3103)
- 354-1996-2 - CHAPTER 2 ADMINISTRATION (487.3201...487.3226)
- 354-1996-3 - CHAPTER 3 CORPORATE STRUCTURE (487.3301...487.3339)
- 354-1996-4 - CHAPTER 4 POWERS (487.3401...487.3434)
- 354-1996-5 - CHAPTER 5 REGULATION (487.3501...487.3514)
- 354-1996-6 - CHAPTER 6 RECEIVERSHIPS AND CONSERVATORSHIPS (487.3601...487.3608)
- 354-1996-7 - CHAPTER 7 CONSOLIDATIONS, MERGERS, AND CONVERSIONS (487.3701...487.3715)
- 354-1996-8 - CHAPTER 8 GENERAL PROVISIONS, EXEMPTION FROM TAXATION (487.3801...487.3804)
Act 355 of 1976 - Repealed-COSTS OF REGULATION OF FINANCIAL ORGANIZATIONS AND FINANCE COMPANIES (487.931 - 487.937)
Act 378 of 1919 - Repealed-NONPAYMENT OF CHECK (487.671 - 487.671)
Act 386 of 1919 - Repealed-FORWARDING OF NEGOTIABLE PAPER (487.641 - 487.641)
Act 390 of 1925 - Repealed-PAPER PRESENTED ONE YEAR AFTER DATE (487.621 - 487.621)