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Michigan Compiled Laws, Chapter 487. Financial Institutions § 487.3510

Current as of January 01, 2025 | Updated by Findlaw Staff

Sec. 510. A transfer of any assets of a savings bank to its shareholders or members, or to its creditors made after the commission of an act of insolvency or made in contemplation of insolvency, with a view to preventing the application of its assets in the manner prescribed by this act, or with a view to the preference of 1 creditor over another, is null and void.

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Cite this article: FindLaw.com - Michigan Compiled Laws, Chapter 487. Financial Institutions § 487.3510 - last updated January 01, 2025 | https://codes.findlaw.com/mi/chapter-487-financial-institutions/mi-comp-laws-487-3510/

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