reglab/housing_qa huggingface dataset:
MI Comp L § 487.3712a (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 354 of 1996 - Savings Bank Act (487.3101 - 487.3804)|354-1996-7 - Chapter 7 Consolidations, Mergers, and Conversions (487.3701...487.3715)|Section 487.3712a - Conversion of Mutual State Savings and Loan Association, or Mutual State Savings Bank, or Other Member-Owned State Chartered Financial Institution Into Stock Savings Bank.

487.3712a Conversion of mutual state savings and loan association, or mutual state savings bank, or other member-owned state chartered financial institution into stock savings bank. Sec. 712a.  (1) With the approval of the commissioner, and upon the affirmative vote of 2/3 of the votes cast, a mutual state savings and loan association, or mutual state savings bank, or other member-owned state chartered financial institution may be converted into a stock savings bank. In such case, the articles of incorporation may be executed by a majority of the directors of the savings and loan association, or other member-owned state chartered financial institution. A majority of the directors, after executing the articles of incorporation, may execute all other papers and do whatever may be required to complete its organization as a savings bank.  (2) The shares or membership interests of the savings bank may continue to be for the same amount each as they were before the conversion, and the directors may continue to be directors of the savings bank until others have been elected or appointed under the laws of this state.  (3) The approval of the commissioner shall be based on an examination of the savings and loan association, or other member-owned state chartered financial institution and of the proceedings had by its directors and members with respect to the conversion.  (4) A conversion shall not be made to defeat or defraud any of the creditors of the savings and loan association or other member-owned state chartered financial institution.  (5) Subject to conditions as he or she may prescribe, the commissioner may permit the converted savings bank to retain and carry, at a value determined by the commissioner, assets of the converting savings and loan association or other member-owned state chartered financial institution which do not conform to the legal requirements relative to assets acquired and held by savings banks. History: Add. 2000, Act 482, Imd. Eff. Jan. 11, 2001
MI Comp L § 487.3714 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 354 of 1996 - Savings Bank Act (487.3101 - 487.3804)|354-1996-7 - Chapter 7 Consolidations, Mergers, and Conversions (487.3701...487.3715)|Section 487.3714 - Liability Not Impaired by Sale of Assets, Consolidation, or Conversion.

487.3714 Liability not impaired by sale of assets, consolidation, or conversion. Sec. 714.  The liability of any savings bank, national banking association, stock association, or federal savings bank or of the shareholders, directors, or officers thereof, or the rights or remedies of the creditors thereof, or of persons transacting business with such entities, shall not be lessened or impaired by virtue of the sale of all or substantially all of the assets of such entities or by the consolidation of 2 or more organizations or the conversion of an organization. History: 1996, Act 354, Imd. Eff. July 1, 1996
MI Comp L § 487.3715 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 354 of 1996 - Savings Bank Act (487.3101 - 487.3804)|354-1996-7 - Chapter 7 Consolidations, Mergers, and Conversions (487.3701...487.3715)|Section 487.3715 - Conversion of Mutual Savings Bank to Stock Savings Bank.

487.3715 Conversion of mutual savings bank to stock savings bank. Sec. 715.  (1) A mutual savings bank may apply to convert to a stock savings bank. The application shall include a resolution of the board of directors authorizing the application, proposed amendments to the articles of incorporation of the mutual savings bank to authorize the issuance and sale of stock, a plan of conversion, and any other information as the commissioner may require. Within 100 days of receipt of a completed application, the commissioner shall issue his or her approval or denial of the proposed amendments to the articles of incorporation and the plan of conversion, along with his or her preliminary approval or denial of the conversion.  (2) Upon receipt of a preliminary approval to convert, a mutual savings bank shall obtain the affirmative vote of 2/3 of the votes cast.  (3) Following the approval of its membership, the mutual savings bank may request authorization of the commissioner to convert to a stock savings bank. The request shall include a certified copy of the election results of the membership along with a resolution of the board of directors requesting approval to convert to a stock savings bank. Within 30 days of receipt of a request to convert, the commissioner shall issue his or her approval or denial.  (4) The conversion of a mutual savings bank to a stock savings bank shall not release the mutual savings bank from its obligations to pay and discharge all the liabilities created by law or incurred by the mutual savings bank before becoming a stock savings bank or any tax imposed by the laws of this state up to the date of the mutual savings bank becoming a stock savings bank in proportion to the time which has elapsed since the last preceding payment or any assessment, penalty, or forfeiture imposed or incurred under the laws of this state up to the date of the mutual savings bank becoming a stock savings bank. A conversion shall not be made to defeat or defraud any of the members or creditors of the mutual savings bank. History: 1996, Act 354, Imd. Eff. July 1, 1996 ;-- Am. 2000, Act 482, Imd. Eff. Jan. 11, 2001
MI Comp L § 487.3801 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 354 of 1996 - Savings Bank Act (487.3101 - 487.3804)|354-1996-8 - Chapter 8 General Provisions, Exemption From Taxation (487.3801...487.3804)|Section 487.3801 - Use of “Bank,”“banker,” or “banking.”

487.3801 Use of “bank,”“banker,” or “banking.” Sec. 801.  (1) The use of the word "bank", "banker", or "banking", or words in any foreign language of similar meaning, as a designation or name or part of a designation or name under which business is conducted in this state, is restricted to a national bank, a savings bank subject to this act, a bank, out-of-state bank, a bank holding company, a foreign bank agency, or a foreign bank branch, that is lawfully conducting business in this state, except if the designation or name, taken as a whole, would not imply a banking business.  (2) A savings bank subject to this act may use the phrase "state savings bank" or "savings bank" as part of a designation or name. History: 1996, Act 354, Imd. Eff. July 1, 1996
MI Comp L § 487.3802 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 354 of 1996 - Savings Bank Act (487.3101 - 487.3804)|354-1996-8 - Chapter 8 General Provisions, Exemption From Taxation (487.3801...487.3804)|Section 487.3802 - Construction of Act.

487.3802 Construction of act. Sec. 802.  (1) The powers, privileges, duties, and restrictions conferred and imposed upon any institution existing and doing business under the laws of this state to which this act is applicable are abridged, enlarged, or modified as each particular case may require to conform to this act.  (2) This act shall not be construed to affect the legality of investments or of transactions made under any law in effect when the investments or transactions were made or to require the change of investments for those named in this act, except by the sale or redemption of the securities to prevent loss or embarrassment in the business of the institution, or unnecessary loss or injury to the borrowers on the securities.  (3) An extension of any loan or investment shall not be made by any institution, unless necessary to avoid loss or embarrassment as provided in subsection (2). History: 1996, Act 354, Imd. Eff. July 1, 1996
MI Comp L § 487.3803 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 354 of 1996 - Savings Bank Act (487.3101 - 487.3804)|354-1996-8 - Chapter 8 General Provisions, Exemption From Taxation (487.3801...487.3804)|Section 487.3803 - Effect of MCL 450.1 to 450.192.

487.3803 Effect of MCL 450.1 to 450.192. Sec. 803.  Notwithstanding any other law, a savings bank subject to the provisions of this act shall not be governed by Act No. 327 of the Public Acts of 1931, being sections 450.1 to 450.192 of the Michigan Compiled Laws. History: 1996, Act 354, Imd. Eff. July 1, 1996
MI Comp L § 487.3804 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 354 of 1996 - Savings Bank Act (487.3101 - 487.3804)|354-1996-8 - Chapter 8 General Provisions, Exemption From Taxation (487.3801...487.3804)|Section 487.3804 - Tax Exemptions.

487.3804 Tax exemptions. Sec. 804.  A savings bank subject to this act shall have the following tax exemptions:  (a) All mortgages or other securities held by savings banks are exempt from all municipal or other taxes under the laws of this state.  (b) All personal property owned by savings banks is exempt from taxation. History: 1996, Act 354, Imd. Eff. July 1, 1996 ;-- Am. 2000, Act 482, Imd. Eff. Jan. 11, 2001
MI Comp L § 490.101 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 1 - General Provisions (490.101...490.105)|Section 490.101 - Short Title.

490.101 Short title. Sec. 101.  This act shall be known and may be cited as the “credit union act”. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.104 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 1 - General Provisions (490.101...490.105)|Section 490.104 - "Credit Union"; Use in Name or Title; Restrictions; "Corporate" or "Corporate Central"; Use in Name.

490.104 "Credit union"; use in name or title; restrictions; "corporate" or "corporate central"; use in name.Sec. 104.  (1) A person shall not use the words "credit union" in its name or any assumed names, unless it is 1 of the following:  (a) A domestic credit union or a foreign credit union.  (b) A credit union trade association.  (c) A credit union service organization.  (d) An organization that is wholly owned by 1 or more domestic credit unions, foreign credit unions, credit union trade associations, or credit union service organizations.  (e) A separate segregated fund established under section 55 of the Michigan campaign finance act, 1976 PA 388, MCL 169.255, or a political action committee under federal law.  (2) A credit union may not use the word "corporate" or the words "corporate central" immediately before the words "credit union" in its name unless it is a corporate credit union organized under this act, the laws of another state or territory of the United States, or the laws of the United States. History: 2003, Act 215, Eff. June 1, 2004 ;-- Am. 2004, Act 471, Imd. Eff. Dec. 28, 2004
MI Comp L § 490.105 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 1 - General Provisions (490.101...490.105)|Section 490.105 - Domestic Credit Union; Exemption From Tax; Exception; Stock Transfer Tax.

490.105 Domestic credit union; exemption from tax; exception; stock transfer tax. Sec. 105.  A domestic credit union is exempt from taxation by this state or a political subdivision of this state except property taxes on real property. The shares of a domestic credit union are not subject to a stock transfer tax when issued by the credit union or when transferred from 1 member to another. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.501 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 5 - Foreign Credit Unions (490.501...490.502)|Section 490.501 - Conduct of Business by Foreign Credit Union.

490.501 Conduct of business by foreign credit union. Sec. 501.  (1) A foreign credit union, other than a federal credit union, may conduct business as a credit union in this state only with the written approval of the commissioner. The commissioner shall not grant approval unless the commissioner finds that the foreign credit union meets all of the following requirements:  (a) The credit union is organized under a law similar to this act.  (b) The credit union is financially solvent.  (c) The credit union has insurance through an agency of the federal government of member share and deposit accounts.  (d) The credit union is examined and supervised by the supervisory authority of the state or territory in which it is organized.  (e) The credit union conducts business in this state to adequately serve its members in this state.  (2) The commissioner shall not grant approval under subsection (1) unless the foreign credit union agrees in writing as a condition of the approval to do all of the following:  (a) To charge a rate of interest that does not exceed any rate of interest permitted by the credit reform act, 1995 PA 162, MCL 445.1851 to 445.1864, for a loan in this state by a domestic credit union.  (b) Comply with the same consumer protection laws that a domestic credit union must comply with when making a loan or providing other services in this state. For purposes of this subdivision, a loan is made in this state if any person, other than a guarantor, while physically in this state, signed the loan agreement setting forth the terms and conditions of any obligation created or to be created under the agreement. For purposes of this subdivision, a service other than a loan is provided in this state if a person does not physically travel out of this state to obtain the service or if an agreement to provide the service is signed by a person in this state.  (c) Designate and maintain an agent for the service of process in this state.  (d) File any reports required by the commissioner.  (e) Allow the commissioner to conduct an examination, if necessary, to the same extent as the commissioner is authorized to conduct examinations of domestic credit unions under article 2.  (f) Meet any other requirements that the commissioner requires of domestic credit unions under this act.  (3) The commissioner shall not grant approval under subsection (1) if the state or territory in which the credit union is organized does not permit credit unions organized in this state to do business in that state or territory.  (4) This section does not exempt a foreign credit union from complying with the laws of this state to the extent compliance is otherwise required. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.502 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 5 - Foreign Credit Unions (490.501...490.502)|Section 490.502 - Violations by Foreign Credit Union.

490.502 Violations by foreign credit union. Sec. 502.  (1) If in the opinion of the commissioner a foreign credit union is engaging, has engaged, or is about to engage in an unsafe or unsound practice in conducting the business of a credit union at a branch located in this state, or is violating, has violated, or is about to violate a state or federal law or a state or federal rule or regulation, the commissioner may notify any state or federal regulatory authority with jurisdiction over the foreign credit union of the practice or violation, or may issue and serve upon the foreign credit union a notice of intent to revoke the foreign credit union's authority to engage in business in this state. The notice shall contain a statement of the facts constituting the alleged unsafe or unsound practice or violation and inform the foreign credit union of its right to request a hearing within 10 days.  (2) If a foreign credit union described in subsection (1) requests a hearing within the 10-day time period, the commissioner shall hold a hearing in accordance with the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328.  (3) Within 60 days after the date of a hearing under subsection (2), the commissioner shall file a written decision containing his or her findings and serve a copy on the foreign credit union. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.601 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 6 - Repeal of Predecessor Act (490.601...490.601)|Section 490.601 - Repeal of MCL 490.1 to 490.31.

490.601 Repeal of MCL 490.1 to 490.31. Sec. 601.  1925 PA 285, MCL 490.1 to 490.31, is repealed. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 500.100 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-1 - Chapter 1 Scope of Code (500.100...500.150)|Section 500.100 - Insurance Code of 1956; Short Title.

500.100 Insurance code of 1956; short title. Sec. 100.  This act shall be known and may be cited as "the insurance code of 1956".  History: 1956, Act 218, Eff. Jan. 1, 1957 Compiler's Notes: For transfer of the Department of Insurance and Office of the Commissioner on Insurance from the Department of Licensing and Regulation to the Department of Commerce, see E.R.O. No. 1991-9, compiled at MCL 338.3501 of the Michigan Compiled Laws.For transfer of authority, powers, duties, functions, and responsibilities of the insurance bureau and the commissioner of insurance to the commissioner of the office of financial and insurance services and the office of financial and insurance services, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.102 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-1 - Chapter 1 Scope of Code (500.100...500.150)|Section 500.102 - Definitions.

500.102 Definitions.Sec. 102.  As used in this act:  (a) "Commissioner" means the director.  (b) "Department" means the department of insurance and financial services.  (c) "Director" means, unless the context clearly implies a different meaning, the director of the department.  (d) "Office of financial and insurance regulation" and "office of financial and insurance services" mean the department. History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 2000, Act 252, Imd. Eff. June 29, 2000 ;-- Am. 2014, Act 509, Imd. Eff. Jan. 14, 2015 ;-- Am. 2014, Act 566, Imd. Eff. Jan. 15, 2015 ;-- Am. 2014, Act 571, Eff. Mar. 31, 2015 Compiler's Notes: Enacting section 1 of Act 566 of 2014 provides:"Enacting section 1. (1) This amendatory act shall not be construed to do any of the following: (a) Authorize this state or an agency of this state to conduct or oversee state-level governmental consumer assistance functions for an American health benefit exchange established or operating in this state under the patient protection and affordable care act, Public Law 111-148, as amended by the health care and education reconciliation act of 2010, Public Law 111-152. (b) Convey any administrative, statutory, rule-making, or other power to this state or an agency of this state to authorize, establish, or operate an American health benefit exchange in this state that did not exist before the effective date of this amendatory act. (2) It is the intent of this legislature that any consumer assistance functions by or overseen by this state or an agency of this state with regard to an American health benefit exchange shall be conducted in a manner that utilizes and highlights Michigan-based resources, including insurance producers, in order to best serve the residents of this state and to ensure appropriate health care decisions."Enacting section 2 of Act 566 of 2014 provides:"Enacting section 2. This amendatory act applies to policies, certificates, or contracts delivered, issued for delivery, or renewed in this state on and after the effective date of this amendatory act."Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.103 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-1 - Chapter 1 Scope of Code (500.100...500.150)|Section 500.103 - “Revenue Commissioner” Defined.

500.103 “Revenue commissioner” defined. Sec. 103.  As used in this code, "revenue commissioner" means the state commissioner of revenue appointed under Act No. 122 of the Public Acts of 1941, being sections 205.1 to 205.31 of the Michigan Compiled Laws. History: Add. 1990, Act 256, Imd. Eff. Oct. 15, 1990 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.106 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-1 - Chapter 1 Scope of Code (500.100...500.150)|Section 500.106 - "Health Maintenance Organization" and "Insurer" Defined.

500.106 "Health maintenance organization" and "insurer" defined.Sec. 106.  As used in this act:  (a) "Health maintenance organization" means that term as defined in section 3501.  (b) "Insurer" means an individual, corporation, association, partnership, reciprocal exchange, inter-insurer, Lloyds organization, fraternal benefit society, or other legal entity, engaged or attempting to engage in the business of making insurance or surety contracts. Except as otherwise provided in section 3503 and unless the context requires otherwise, insurer includes a health maintenance organization. History: 1956, Act 218, Eff. Jan. 1, 1957 ;-- Am. 2016, Act 276, Imd. Eff. July 1, 2016 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.108 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-1 - Chapter 1 Scope of Code (500.100...500.150)|Section 500.108 - Authorized, Unauthorized Insurer; Definitions.

500.108 Authorized, unauthorized insurer; definitions. Sec. 108.  As used in this code:  (1) "Authorized" insurer means an insurer duly authorized, by a subsisting certificate of authority issued by the commissioner, to transact insurance in this state.  (2) "Unauthorized" insurer means an insurer not so authorized to transact insurance in this state. History: 1956, Act 218, Eff. Jan. 1, 1957 Popular Name: Act 218Popular Name: Essential Insurance
MI Comp L § 500.110 (2021)
2021 Michigan Compiled Laws|Chapter 500 - Insurance Code of 1956|Act 218 of 1956 - The Insurance Code of 1956 (500.100 - 500.8302)|218-1956-1 - Chapter 1 Scope of Code (500.100...500.150)|Section 500.110 - Domestic, Foreign, Alien; Definitions.

500.110 Domestic, foreign, alien; definitions.  Sec. 110.  As used in this code:  (1) "Domestic" insurer means an insurer formed under the laws of this state.  (2) "Foreign" insurer means an insurer formed under the laws of the District of Columbia, or some state, commonwealth, territory, or possession of the United States of America other than the state of Michigan.  (3) "Alien" insurer means an insurer formed under the laws of a country other than the United States of America or any state, district, commonwealth, territory, or possession of the United States of America.  (4) Unless the context otherwise requires or unless the same subject is treated in this code by a provision expressly applying to alien insurers, the term "foreign insurer" as used in a particular section of this code shall be deemed to include also alien insurers. History: 1956, Act 218, Eff. Jan. 1, 1957 Popular Name: Act 218Popular Name: Essential Insurance