Section 491.714 - Investment in service corporation.
SAVINGS AND LOAN ACT OF 1980 (EXCERPT)
Act 307 of 1980
491.714 Investment in service corporation.
Sec. 714.
An investment by an association in a service corporation shall not exceed 5% of the association's total assets unless the investment has been approved by the supervisor and all investments shall be subject to limitations and approvals established by rules promulgated by the supervisor.
History: 1980, Act 307, Eff. Jan. 1, 1981 ;-- Am. 1987, Act 106, Imd. Eff. July 7, 1987
Admin Rule: R 491.101 et seq. of the Michigan Administrative Code.