reglab/housing_qa huggingface dataset:
MI Comp L § 487.717 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 53 of 1978 - Statutory Joint Account Act (487.711 - 487.719)|Section 487.717 - Withdrawals of Funds; Liability of Financial Institution; Deposits Subject to Setoff.

487.717 Withdrawals of funds; liability of financial institution; deposits subject to setoff. Sec. 7.  (1) Financial institutions shall honor withdrawals of funds pursuant to the withdrawal provisions of the statutory joint account contract. In so doing, they shall be relieved of liability to persons having a claim to ownership of the funds. A financial institution shall not be chargeable with changes in rights of withdrawal due to death or incompetency in absence of actual knowledge thereof.  (2) Deposits in statutory joint accounts shall be subject to setoff for obligations to the financial institution by persons designated in the statutory joint account contract as owners of the funds to the extent of the ownership at the date of setoff. History: 1978, Act 53, Imd. Eff. Mar. 9, 1978
MI Comp L § 487.718 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 53 of 1978 - Statutory Joint Account Act (487.711 - 487.719)|Section 487.718 - Deposits Subject to Rights of Creditors; Laws Applicable to Transfers in Fraud of Creditors; Claims Against Insolvent Estate of Deceased Owner of Statutory Joint Account.

487.718 Deposits subject to rights of creditors; laws applicable to transfers in fraud of creditors; claims against insolvent estate of deceased owner of statutory joint account. Sec. 8.  Deposits in a statutory joint account shall be subject to the rights of creditors of the persons designated in the statutory joint account contract as owners of the funds to the extent of the ownership, except that the funds shall remain subject to laws applicable to transfers in fraud of creditors. If in his or her lifetime, a deceased person was an owner of a statutory joint account, the estate, in event of its insolvency, may recover from the surviving owner so much of the deposits as were owned by the deceased person immediately before the deceased person's death to the extent required to satisfy claims against the estate. History: 1978, Act 53, Imd. Eff. Mar. 9, 1978
MI Comp L § 487.719 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 53 of 1978 - Statutory Joint Account Act (487.711 - 487.719)|Section 487.719 - Payment of Widow's Allowance or Allowance for Dependent Children Upon Death of Person Owning Deposits in Statutory Joint Account.

487.719 Payment of widow's allowance or allowance for dependent children upon death of person owning deposits in statutory joint account. Sec. 9.  Upon the death of a person who in his or her lifetime owned the deposits in a statutory joint account, to the extent of the decedent's ownership immediately before his or her death, the rights of the owners of the deposits after the death shall be subject to the right of recovery by the estate of the deceased person to the extent that the assets of the estate are insufficient for the payment of the widow's allowance or allowance for dependent children ordered by a court of competent jurisdiction; or in an intestate estate or where the widow exercised her right to take against the will, the assets of the estate are insufficient for the payment of the widow's share of the estate if the deposits were included as part of the estate. History: 1978, Act 53, Imd. Eff. Mar. 9, 1978
MI Comp L § 487.721 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 330 of 1939 - Joint Safe Deposit Box (487.721 - 487.721)|Section 487.721 - Safe Deposit Box Rented to Joint Holders; Rights of Various Holders and Survivors; Exceptions.

487.721 Safe deposit box rented to joint holders; rights of various holders and survivors; exceptions. Sec. 1.  (1) Subject to subsection (3), if 2 or more persons rent a safe deposit box or compartment, any 1 of them, or the survivor or survivors of them, unless it is otherwise provided in the safe deposit box or compartment rental agreement, has a right to all of the following:  (a) To access to the safe deposit box or compartment for any purpose.  (b) To remove or exchange any contents of the safe deposit box or compartment.  (c) To surrender the safe deposit box or compartment, terminate the rental contract, and discharge the lessor of the safe deposit box or compartment from liability arising from its rental.  (2) The safe deposit and collateral company, bank, industrial bank, trust company, or other lessor of the safe deposit box or compartment is protected against all renters of the safe deposit box or compartment, their assigns, heirs, executors, and administrators in recognizing the rights described in subsection (1). However, subsection (1) does not effect a transfer of title to any contents of a box or compartment from 1 renter to another.  (3) The survivor or survivors of a renter who died before October 1, 1993 has no right of access to the safe deposit box or compartment until the provisions of section 9 of the Michigan estate tax act, Act No. 188 of the Public Acts of 1899, as amended, being section 205.209 of the Michigan Compiled Laws, has been complied with. History: 1939, Act 330, Eff. Sept. 29, 1939 ;-- CL 1948, 487.721 ;-- Am. 1994, Act 370, Imd. Eff. Dec. 27, 1994 Compiler's Notes: For provisions of section 9 of Act 188 of 1899, referred to in this section, see MCL 205.209.
MI Comp L § 487.731 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 146 of 1941 - u.s. Defense Savings Bonds (487.731 - 487.732)|Section 487.731 - u.s. Defense Savings Bonds; Banks and Trust Companies Authorized as Issuing Agent for Sale Of; Deposit or Pledge of Assets.

487.731 U.S. defense savings bonds; banks and trust companies authorized as issuing agent for sale of; deposit or pledge of assets. Sec. 1.  Any bank, any industrial bank and any trust company is authorized to qualify as issuing agent for the sale of United States defense savings bonds, debentures, notes or other similar obligations of the United States of America and may, subject to the approval of the commissioner of the banking department, deposit and/or pledge assets as may be required for the purpose of qualifying as such agent. History: 1941, Act 146, Imd. Eff. May 29, 1941 ;-- CL 1948, 487.731
MI Comp L § 487.732 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 146 of 1941 - u.s. Defense Savings Bonds (487.731 - 487.732)|Section 487.732 - Pledging of Assets; Limitation of Financial Institutions Act Not Otherwise Affected.

487.732 Pledging of assets; limitation of financial institutions act not otherwise affected. Sec. 2.  This act shall not affect the limitations and restrictions of Act No. 341 of the Public Acts of 1937, as amended, with respect to the pledge of assets of the institutions herein named, except in so far as provided in this act. History: 1941, Act 146, Imd. Eff. May 29, 1941 ;-- CL 1948, 487.732 Compiler's Notes: Act 341 of 1937, referred to in this section, was repealed by Act 174 of 1962 and Act 319 of 1969.
MI Comp L § 487.751 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 2 of 1935 - Loans Under National Housing Act (487.751 - 487.753)|Section 487.751 - National Housing Act; State Financial Institutes' Authorized Transactions; Collateral.

487.751 National housing act; state financial institutes' authorized transactions; collateral. Sec. 1.  Subject to such regulations as may be prescribed by the proper state supervising authority, banks, trust companies, building and loan associations, insurance companies, finance companies and other lending agencies, the character, extent or incidents of whose loans are subject to the law of this state, are authorized:  (a) To make such loans and advances of credit and purchases of obligations representing loans and advances of credit as are eligible for insurance by the federal housing administrator, and to obtain such insurance.  (b) To make such loans secured by mortgages on real property as are eligible for insurance by the federal housing administrator, and to obtain such insurance.  (c) To purchase, invest in, and dispose of, bonds or notes secured by mortgage or trust deed insured by the federal housing administrator or debentures issued by the federal housing administrator or securities issued by national mortgage associations.  Wherever, by statute of this state, collateral is required as security for the deposit of public or other funds, or deposits are required to be made with any public official or department, or any investment of capital or surplus, or a reserve or other fund, is required to be maintained consisting of designated securities, notes or bonds secured by mortgage or trust deed insured by the federal housing administrator, debentures issued by the federal housing administrator, and obligations of national mortgage associations shall be eligible for such purposes. History: 1935, Act 2, Imd. Eff. Feb. 20, 1935 ;-- Am. 1937, Act 245, Imd. Eff. July 21, 1937 ;-- CL 1948, 487.751 Compiler's Notes: For provisions of National Housing Act, see 12 U.S.C. § 1703 et seq.
MI Comp L § 487.752 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 2 of 1935 - Loans Under National Housing Act (487.751 - 487.753)|Section 487.752 - Construction of Act as to Effect of State Laws.

487.752 Construction of act as to effect of state laws. Sec. 2.  No law of this state prescribing the nature, amount or form of security or deposit, or requiring security upon which loans or advances of credit may be made, or prescribing or limiting interest rates upon loans or advances of credit, or prescribing or limiting the period for which loans or advances of credit may be made, or prescribing or limiting the investment in loans or advances of credit, shall be deemed to apply to security given, furnished or accepted, or to loans, advances of credit, or purchases made, pursuant to section 1 of this act: Provided, however, That nothing contained in this act shall, directly or indirectly, authorize or permit any institution subject to its terms to invest in loans or make advances of credit or purchase securities pursuant to section 1 hereof in an amount greater than now authorized by the respective statutes which govern the organization and management of such institutions. History: 1935, Act 2, Imd. Eff. Feb. 20, 1935 ;-- CL 1948, 487.752
MI Comp L § 487.753 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 2 of 1935 - Loans Under National Housing Act (487.751 - 487.753)|Section 487.753 - Declaration of Necessity.

487.753 Declaration of necessity. Sec. 3.  This act is immediately necessary for the preservation of the public welfare, peace, health and safety. History: 1935, Act 2, Imd. Eff. Feb. 20, 1935 ;-- CL 1948, 487.753
MI Comp L § 487.801 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 160 of 1859 - Brokers and Exchange Dealers (487.801 - 487.807)|Section 487.801 - Certificate of Brokers; Necessity; Filing With County Clerk; Contents; Public Inspection.

487.801 Certificate of brokers; necessity; filing with county clerk; contents; public inspection. Sec. 1.  That no person or persons shall be engaged in the business of a broker, or of buying or selling current or uncurrent money, or bank notes, or in the exchange thereof, or in the buying or selling exchange, or in the exchange of coins, or in the receiving of deposits of money or bank notes, as such broker or exchange dealer, unless such person or persons shall first make and file with the county clerk of the county in which such broker's office is or shall be located, a certificate in writing, to be signed by each, and verified by the affidavit of 1 of the members of said copartnership or company, setting forth the full name of each and every person composing the said firm, and the residence of each, the name and style of the firm, the terms of said partnership, and the length of time for which it is to continue, if limited by the partnership contract, and also the locality of their place of business; which certificate shall be kept in the office of the said county clerk, as a public document, and open to the inspection of any person. History: 1859, Act 160, Eff. May 18, 1859 ;-- CL 1871, 1625 ;-- How. 3128 ;-- CL 1897, 5271 ;-- CL 1915, 6715 ;-- CL 1929, 9710 ;-- CL 1948, 487.801
MI Comp L § 487.802 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 160 of 1859 - Brokers and Exchange Dealers (487.801 - 487.807)|Section 487.802 - Certificate of Brokers; New Certificate, Cause, Prior Liability.

487.802 Certificate of brokers; new certificate, cause, prior liability. Sec. 2.  In case there shall be, at any time after the making and filing of said certificate, any change in the name or style of said firm, or in the terms of their partnership, then a new certificate, verified as before specified, shall in like manner be filed, as required by section 1 of this act, before such change shall take effect; and until such new certificate shall have been made and filed, as above specified, the individual member or members of the firm, as set forth in the certificate on file, shall be held to be the actual members of the firm, and in all respects holden and liable for any obligation, debt or liability, incurred by the said company, as brokers or exchange dealers. History: 1859, Act 160, Eff. May 18, 1859 ;-- CL 1871, 1626 ;-- How. 3129 ;-- CL 1897, 5272 ;-- CL 1915, 6716 ;-- CL 1929, 9711 ;-- CL 1948, 487.802
MI Comp L § 487.803 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 160 of 1859 - Brokers and Exchange Dealers (487.801 - 487.807)|Section 487.803 - Certificate of Brokers; Evidence of Facts.

487.803 Certificate of brokers; evidence of facts. Sec. 3.  A certified copy of the said certificate on file in the county clerk's office, signed by the county clerk, and attested by the seal of the circuit court of the county, shall be held to be good and sufficient evidence of any or all the facts in said certificate, stated and set forth. History: 1859, Act 160, Eff. May 18, 1859 ;-- CL 1871, 1627 ;-- How. 3130 ;-- CL 1897, 5273 ;-- CL 1915, 6717 ;-- CL 1929, 9712 ;-- CL 1948, 487.803
MI Comp L § 487.804 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 160 of 1859 - Brokers and Exchange Dealers (487.801 - 487.807)|Section 487.804 - Violation of Act; Penalty.

487.804 Violation of act; penalty. Sec. 4.  If any person shall carry on, or be engaged in carrying on, the business of a broker or exchange dealer, contrary to the provisions of this act, such person shall be deemed guilty of a misdemeanor, and on conviction thereof, shall be punished by fine not less than 100 dollars, nor more than 1,000 dollars, at the discretion of the court. History: 1859, Act 160, Eff. May 18, 1859 ;-- CL 1871, 1628 ;-- How. 3131 ;-- CL 1897, 5274 ;-- CL 1915, 6718 ;-- CL 1929, 9713 ;-- CL 1948, 487.804
MI Comp L § 487.806 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 160 of 1859 - Brokers and Exchange Dealers (487.801 - 487.807)|Section 487.806 - Advertisement or Representation of Nature of Business; Violation, Penalty; Exception.

487.806 Advertisement or representation of nature of business; violation, penalty; exception. Sec. 6.  No person or firm doing business under this act shall advertise or put up signs, or use any device or contrivance whatever, tending to convey the impression that the place of business of such person or firm is an organized bank; but in all such cases such person or firm, if they advertise at all, must use their individual or firm name, and state in such advertisement the names of every member of such co-partnership or firm; in case any person or persons shall violate any of the provisions of this section, they shall be deemed guilty of a misdemeanor, and shall each, upon conviction, be punished by a fine of not more than 200 dollars and costs, or by imprisonment of not more than 6 months in the county jail: Provided, The words "bank,""banking office," or "exchange office," as a sign over the door or on the building, or used on notes, checks, or drafts, in connection with the individual or firm name, shall not be deemed a violation of the foregoing. History: Add. 1875, Act 126, Eff. Aug. 3, 1875 ;-- How. 3133 ;-- CL 1897, 5275 ;-- CL 1915, 6720 ;-- CL 1929, 9715 ;-- CL 1948, 487.806
MI Comp L § 487.807 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 160 of 1859 - Brokers and Exchange Dealers (487.801 - 487.807)|Section 487.807 - Violation of Act; Procedure for Collection of Penalties.

487.807 Violation of act; procedure for collection of penalties. Sec. 7.  The state treasurer shall, when his attention is called to violations of any of the provisions of this act, refer the same to the attorney general, who shall proceed, when warranted by the evidence, to collect the penalties as herein set forth; and all suits or proceedings for the violation of any of the provisions of this act shall be first commenced in the circuit court of the county in which the business office of said person or firm is located. History: Add. 1875, Act 126, Eff. Aug. 3, 1875 ;-- How. 3134 ;-- CL 1897, 5276 ;-- CL 1915, 6721 ;-- CL 1929, 9716 ;-- CL 1948, 487.807
MI Comp L § 487.941 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 232 of 1978 - Suspension of Business of Banks and Savings and Loan Associations (487.941 - 487.946)|Section 487.941 - Definitions.

487.941 Definitions.Sec. 1.  As used in this act:  (a) "Commissioner" means the commissioner of the office of financial and insurance services in the department of labor and economic growth.  (b) "Emergency" means a condition or occurrence that has or may, directly or indirectly, interfere physically with the conduct of normal business operations of 1 or more offices of a financial institution, or which poses an imminent or existing threat to the safety and security of a person or property, or both. An emergency may arise as a result of a fire, flood, earthquake, hurricane, tornado, wind, rain, snowstorm, labor dispute or strike, power failure, transportation failure, fuel shortage, interruption of a communication facility, shortage of housing or food, robbery or attempted robbery, actual or threatened enemy or terrorist attack, epidemic or other catastrophe, riot, civil commotion, or any other act of lawlessness or violence.  (c) "Financial institution" means a state chartered bank, savings bank, credit union, or savings and loan association over which the commissioner has regulatory authority for purposes of this act.   (d) "Office" means a place at which a financial institution transacts its business or conducts operations related to its business.   (e) "Officer" means a person designated by the board of directors of a financial institution to carry out this act. History: 1978, Act 232, Imd. Eff. June 14, 1978 ;-- Am. 2006, Act 134, Imd. Eff. May 12, 2006
MI Comp L § 487.942 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 232 of 1978 - Suspension of Business of Banks and Savings and Loan Associations (487.941 - 487.946)|Section 487.942 - Authorizing or Ordering Financial Institutions to Close Offices Because of Existing or Impending Emergency; Duration; Advising Governor; Authorization to Close Financial Institution on Day of National Mourning, Rejoicing, or Other Special Observance.

487.942 Authorizing or ordering financial institutions to close offices because of existing or impending emergency; duration; advising governor; authorization to close financial institution on day of national mourning, rejoicing, or other special observance.Sec. 2.  (1) The commissioner may authorize or order a financial institution to close an office or offices if the commissioner determines that the action is required because an emergency exists or may be impending. The office or offices closed shall remain closed until the commissioner determines that the emergency is ended and authorizes or orders the financial institution to open the office or offices. The commissioner shall promptly advise the governor of the issuance of a determination under this subsection.  (2) The commissioner may authorize a financial institution to close on a day designated by proclamation of the president of the United States or the governor of this state as a day of national mourning, rejoicing, or other special observance. History: 1978, Act 232, Imd. Eff. June 14, 1978 ;-- Am. 2006, Act 134, Imd. Eff. May 12, 2006
MI Comp L § 487.943 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 232 of 1978 - Suspension of Business of Banks and Savings and Loan Associations (487.941 - 487.946)|Section 487.943 - Determination Not to Open or to Close Office of Financial Institution During Emergency.

487.943 Determination not to open or to close office of financial institution during emergency.Sec. 3.  If the commissioner has not made a determination under section 2(1) and the chief executive officer of a financial institution or another officer designated by the financial institution for purposes of this act determines that an emergency exists or is impending, the officer may order that an office or offices of the financial institution be closed or not open. History: 1978, Act 232, Imd. Eff. June 14, 1978 ;-- Am. 2006, Act 134, Imd. Eff. May 12, 2006
MI Comp L § 487.944 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 232 of 1978 - Suspension of Business of Banks and Savings and Loan Associations (487.941 - 487.946)|Section 487.944 - Notice of Closing.

487.944 Notice of closing.Sec. 4.  (1) A financial institution closing or not opening an office or offices under section 3 shall give notice to the commissioner and any other appropriate governmental entity as required by law.  (2) A financial institution that closes or does not open an office or offices under section 3 shall reopen the office or offices as soon as the chief executive officer or other designated officer determines that the emergency is ended or as authorized or ordered by the commissioner. History: 1978, Act 232, Imd. Eff. June 14, 1978 ;-- Am. 2006, Act 134, Imd. Eff. May 12, 2006
MI Comp L § 487.945 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 232 of 1978 - Suspension of Business of Banks and Savings and Loan Associations (487.941 - 487.946)|Section 487.945 - Period Financial Institution Closed as Legal Holiday.

487.945 Period financial institution closed as legal holiday.Sec. 5.  The period during which a financial institution is closed under this act is a legal holiday. History: 1978, Act 232, Imd. Eff. June 14, 1978 ;-- Am. 2006, Act 134, Imd. Eff. May 12, 2006
MI Comp L § 487.946 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 232 of 1978 - Suspension of Business of Banks and Savings and Loan Associations (487.941 - 487.946)|Section 487.946 - Obligations to Employees Not Altered.

487.946 Obligations to employees not altered.Sec. 6.  This act does not alter any of the obligations under law of a financial institution to its employees or to the employees of another employer. History: 1978, Act 232, Imd. Eff. June 14, 1978 ;-- Am. 2006, Act 134, Imd. Eff. May 12, 2006
MI Comp L § 487.1001 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 250 of 2006 - Money Transmission Services Act (487.1001 - 487.1047)|Section 487.1001 - Short Title.

487.1001 Short title.Sec. 1.  This act shall be known and may be cited as the "money transmission services act". History: 2006, Act 250, Imd. Eff. July 3, 2006