487.14107 Sale or purchase of bank branch.
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487.14107 Sale or purchase of bank branch.
Sec. 4107.
(1)A bank may sell 1 or more of its branches, without selling all or substantially all of the bank, to another depository institution located in this state or in a state whose laws would permit a bank to purchase 1 or more branches in that state of the purchasing depository institution.
(2)A bank may purchase 1 or more branches of another depository institution, without purchasing all or substantially all of the depository institution.
(3)A bank that proposes to purchase 1 or more branches under subsection
(2)shall provide notice to the commissioner under section 3711 before operating the purchased branch or branches.
History: 1999, Act 276 , Eff. Mar. 1, 2000