State Codes and Statutes

State Codes and Statutes

Statutes > Michigan > Chapter-487 > Act-250-of-2006 > Section-487-1026

MONEY TRANSMISSION SERVICES ACT (EXCERPT)
Act 250 of 2006

487.1026 Disclosure of information.

Sec. 26.

(1) The commissioner, each former commissioner, and each current and former deputy, agent, and employee of the agency shall keep secret all facts and information obtained in the course of their duties, unless that person is required under law to report on, take official action concerning, or testify in any proceedings regarding a licensee or the activities of a licensee.

(2) This section does not apply to, and does not prohibit the furnishing of information or documents to, any federal, foreign, or out-of-state regulatory agency with jurisdiction over a licensee and is not applicable to any disclosure made in the public interest by the commissioner, at his or her discretion.


History: 2006, Act 250, Imd. Eff. July 3, 2006