Statutes > Michigan Statutes > Chapter 491 - COOPERATIVE SAVINGS ASSOCIATIONS > Act 307 of 1980 - SAVINGS AND LOAN ACT OF 1980 (491.102 - 491.1202) > 307-1980-1 - ARTICLE 1 (491.102...491.160) > Section 491.148 - “Savings liability” defined.

Section 491.148 - “Savings liability” defined.

SAVINGS AND LOAN ACT OF 1980 (EXCERPT)
Act 307 of 1980

491.148 “Savings liability” defined.

Sec. 148.

“Savings liability” means the total amount on deposit in all savings accounts of an association plus all interest or earnings accrued or accumulated on the deposits.


History: 1980, Act 307, Eff. Jan. 1, 1981