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Code · Michigan · Chapter 487 — Financial Institutions

487.3603 Procedures for liquidation; limitation.

71 words·~1 min read·/mi/chapter-487/487-3603

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487.3603 Procedures for liquidation; limitation.
Sec. 603.
The full and exclusive procedures for the liquidation of a savings bank under this act shall be the procedures prescribed in this act and a receiver or other liquidating agent shall not be appointed for such purpose or for any savings bank or its assets and property except as expressly provided in this act.
History: 1996, Act 354 , Imd. Eff. July 1, 1996
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