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Can you summarize MICL 487.11201?
PART 2 DEFINITIONS (487.11201...487.11203) > Definitions; A to F.
Short Summary
This section provides definitions for various terms used in the Michigan Banking Code of 1999. It covers terms such as ‘administrative expense’, ‘affiliate’, ‘applicant’, ‘bank’, ‘bank holding company’, ‘branch’, ‘capital’, ‘cease and desist order’, ‘commissioner’, ‘consolidate’, ‘consolidated bank’, ‘consolidated organization’, ‘depository institution’, ‘derivative transaction’, ‘dissolution’, ‘dividend reinvestment plan’, ‘federal agency’, ‘federal branch’, ‘federal deposit insurance act’, ‘federal home loan bank act’, and ‘federal reserve act’. These definitions are essential for understanding the provisions and regulations outlined in the Michigan Banking Code of 1999.
Whom does it apply to?
Entities and individuals involved in the banking industry in Michigan
What does it govern?
Definitions related to the Michigan Banking Code of 1999
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Michigan