490.306 Conducting business by mail or electronic communication.
84 words·~1 min read·
/mi/chapter-490/490-306A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
490.306 Conducting business by mail or electronic communication.
Sec. 306.
With prior written notice to the director, a domestic credit union may conduct its business solely by mail or through electronic communication without having a physical location where members may transact business with the credit union. A domestic credit union conducting business under this section shall maintain a principal place of business in this state.
History: 2003, Act 215 , Eff. June 1, 2004 ;-- Am. 2016, Act 153 , Eff. Sept. 7, 2016