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Can you summarize MICL, 328-1931-XIII?
THE MICHIGAN PENAL CODE (750.1 - 750.568) ***** 750.223.amended THIS AMENDED SECTION IS EFFECTIVE 91 DAYS AFTER ADJOURNMENT OF THE 2023 REGULAR SESSION SINE DIE ***** ***** 750.14 THIS SECTION IS REPEALED BY ACT 11 OF 2023 EFFECTIVE 91 DAYS AFTER ADJOURNMENT OF THE 2023 REGULAR SESSION SINE DIE ***** > CHAPTER XIII BANK, DEPOSIT AND TRUST COMPANIES (750.93...750.101)
Short Summary
The provided legal document content pertains to Chapter XIII of the Michigan Compiled Laws, which governs bank, deposit, and trust companies. It specifically focuses on the Michigan financial institutions act and its provisions. The document states that any officer, clerk, agent, or employee of a financial institution mentioned in the act who knowingly aids or assists in a violation of the act or its amendments will be guilty of a felony. The penalty for such violation is imprisonment in the state prison for a maximum of 5 years or a fine of up to $2,500. The document also references other sections within the Michigan Penal Code that address related offenses and penalties. Overall, this document applies to individuals holding positions within the mentioned financial institutions and aims to ensure compliance with the Michigan financial institutions act.
Whom does it apply to?
Officers, clerks, agents, or employees of the mentioned financial institutions
What does it govern?
Bank, industrial bank, trust company, safe and collateral deposit company, or any other financial institution governed by the provisions of the Michigan financial institutions act
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Imprisonment in the state prison for up to 5 years or a fine of up to $2,500
Jurisdiction
Michigan