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Current as of January 01, 2025 | Updated by Findlaw Staff
Sec. 4107. (1) A bank may sell 1 or more of its branches, without selling all or substantially all of the bank, to another depository institution located in this state or in a state whose laws would permit a bank to purchase 1 or more branches in that state of the purchasing depository institution.
(2) A bank may purchase 1 or more branches of another depository institution, without purchasing all or substantially all of the depository institution.
(3) A bank that proposes to purchase 1 or more branches under subsection (2) shall provide notice to the commissioner under section 3711 1 before operating the purchased branch or branches.
Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 487. Financial Institutions § 487.14107 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-487-financial-institutions/mi-comp-laws-487-14107/
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