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Michigan Legislature
Michigan Compiled Laws Complete Through PA 123 of 2019
House: Adjourned until Thursday, December 19, 2019 11:30:00 AM
Senate: Adjourned until Thursday, December 19, 2019 11:30:00 AM


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215-2003-2-3
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CREDIT UNION ACT (EXCERPT)
Act 215 of 2003
Part 3
CONSERVATORSHIPS

DocumentTypeDescription
Section 490.241SectionAppointment of conservator; grounds; bond and security; qualifications; payment of administrative expenses.
Section 490.242SectionPossession of books, records, and assets; rights of parties; discharge of real estate mortgage.
Section 490.243SectionWithdrawal by members and depositors and payment to other creditors; availability of amounts; receipt of shares and deposits; actions; return of control to credit union board; notice.
Section 490.244SectionAuthority of commissioner to borrow money; conditions; secured loans.
Section 490.245SectionTermination of conservatorship; determination by commissioner; resumption of business transactions by domestic credit union; appointment of receiver; liquidation.
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