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Code · Michigan · Chapter 487 — Financial Institutions

487.3504 Receipt of consideration or gratuity prohibited.

46 words·~1 min read·/mi/chapter-487/487-3504

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487.3504 Receipt of consideration or gratuity prohibited.
Sec. 504.
An officer, director, or employee of a savings bank shall not receive any consideration or gratuity from a borrower for procuring a loan from the savings bank.
History: 1996, Act 354 , Imd. Eff. July 1, 1996
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