490.205 Disclosure of information.
137 words·~1 min read·
/mi/chapter-490/490-205A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
490.205 Disclosure of information.
Sec. 205.
(1)The commissioner and all deputies, agents, and employees of the office of financial and insurance services shall keep secret all facts and information obtained in the course of their duties, except if the person is required under law to report upon, take official action, or testify in any proceedings regarding the affairs of a credit union. This subsection applies to all former commissioners, deputies, agents, and employees of the office of financial and insurance services.
(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 credit union regulatory agencies, and is not applicable to disclosures made in the public interest by the commissioner, at his or her discretion.
History: 2003, Act 215 , Eff. June 1, 2004