reglab/housing_qa huggingface dataset:
MI Comp L § 490.208 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)|Section 490.208 - Application for Additional Powers by Domestic Credit Unions.

490.208 Application for additional powers by domestic credit unions. Sec. 208.  (1) If 1 or more domestic credit unions apply for authority to exercise powers not specifically authorized by this act, the commissioner may by rule, order, or declaratory ruling authorize domestic credit unions to exercise those powers if the commissioner finds that those powers are appropriate and necessary to compete with other providers of financial services in this state.  (2) In acting under subsection (1), the commissioner shall consider the ability of the domestic credit unions to exercise the additional power in a safe and sound manner, the authority of the domestic credit unions under state or federal law or regulation, the powers of other competing entities providing financial services, and any specific limitations on domestic credit union powers contained in this act or in any rules or other law of this state.  (3) The commissioner shall make any rules, declaratory rulings, orders, or findings made under this section available to domestic credit unions. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.209 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)|Section 490.209 - Issuance of Subpoena by Circuit Court.

490.209 Issuance of subpoena by circuit court. Sec. 209.  The commissioner may petition the circuit court for the county of Ingham or the circuit court in the jurisdiction where an examination is being conducted to issue a subpoena on behalf of the commissioner that requires the person subpoenaed to appear and testify under oath to any matter related to the examination and to produce any relevant documents. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.211 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)|Section 490.211 - Temporary Cease and Desist Order; Conditions; Injunction for Setting Aside Order.

490.211 Temporary cease and desist order; conditions; injunction for setting aside order. Sec. 211.  (1) If the commissioner determines that a violation or threatened violation or an unsafe or unsound practice or practices specified in the notice of charges served upon a domestic credit union under section 210, or the continuation of the violation or practice, is likely to cause insolvency or substantial dissipation of assets or earnings of the domestic credit union, or is likely to otherwise seriously prejudice the interests of its depositors, the commissioner may issue a temporary order requiring the domestic credit union to cease and desist from that violation or practice. The temporary order is effective upon service upon the domestic credit union and is effective and enforceable until a cease and desist order under section 210 is issued and becomes effective or until it is stayed, modified, terminated, or set aside by action of the commissioner or a reviewing court in a proceeding under subsection (2).  (2) Within 10 days after a domestic credit union has been served with a temporary cease and desist order under subsection (1), the domestic credit union may apply to the circuit court for the county in which the principal office of the domestic credit union is located for an injunction setting aside, limiting, or suspending the enforcement, operation, or effectiveness of the order pending the completion of the proceedings under section 210. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.213 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)|Section 490.213 - Stay of Suspension or Prohibition.

490.213 Stay of suspension or prohibition. Sec. 213.  Within 10 days after the date a person has been suspended from office or prohibited from participation in the conduct of the affairs of any domestic credit union under section 212(3), the person may apply to the circuit court for Ingham county or the circuit court for the county where the principal office of the domestic credit union is located for a stay of the suspension or prohibition pending the completion of the administrative proceedings pursuant to the notice served on the person under section 212(1) or (2). History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.214 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)|Section 490.214 - Individual Charged With Crime Involving Dishonesty or Breach of Trust; Suspension From Office or Prohibition From Participation in Conduct of Affairs; Finding of Not Guilty or Other Disposition.

490.214 Individual charged with crime involving dishonesty or breach of trust; suspension from office or prohibition from participation in conduct of affairs; finding of not guilty or other disposition.Sec. 214.  (1) If an individual who participates in the conduct of the affairs of a domestic credit union is charged in any information, indictment, warrant, or complaint by a county, state, or federal authority with the commission of, or participation in, a crime that involves dishonesty or breach of trust, the director may, by written notice served on the individual, suspend the individual from office or prohibit the individual from further participation in any manner in the conduct of the affairs of the domestic credit union. The director shall also serve a copy of the suspension or prohibition on the domestic credit union. A suspension or prohibition is in effect until the information, indictment, warrant, or complaint is finally disposed of or until terminated by the director.  (2) If a judgment of conviction with respect to an offense described in subsection (1) is entered against an individual, after the judgment is not subject to further appellate review, the director may issue an order removing the individual from office or prohibiting the individual from further participation in the conduct of the affairs of any domestic credit union. If an order described in this subsection is issued, the individual must obtain the prior consent of the director before participating in any manner in the conduct of the affairs of any domestic credit union.  (3) An individual who is removed from office under subsection (2) is removed when a copy of the order is served on the domestic credit union.  (4) A finding of not guilty or other disposition of the charge does not preclude the director from instituting proceedings to suspend or remove an individual from office or to prohibit further participation in the affairs of a domestic credit union under section 212(1), (2), or (3). History: 2003, Act 215, Eff. June 1, 2004 ;-- Am. 2004, Act 471, Imd. Eff. Dec. 28, 2004 ;-- Am. 2016, Act 152, Eff. Sept. 7, 2016
MI Comp L § 490.215 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)|Section 490.215 - Administrative Hearing.

490.215 Administrative hearing. Sec. 215.  (1) The commissioner shall conduct an administrative hearing under section 210 or 212 under the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328. The commissioner shall close the hearing to the public unless the commissioner, after fully considering the views of the party who is the subject of the hearing, determines that a public hearing is necessary to protect the public interest. After the hearing and within 90 days after notifying the parties that he or she has received the case for final decision, the commissioner shall render a decision that includes findings of fact upon which the decision is predicated and issue and serve upon each party to the proceeding an order consistent with this section.  (2) A party to a proceeding or other person required by an order issued under section 210, 211, 212, or 214 to cease and desist from any of the violations or practices stated in the order, or who is suspended, removed, or prohibited from participation in the conduct of the affairs of the domestic credit union by the order, may request a review by a court of competent jurisdiction of an order issued under subsection (1). The party or person must make his or her request by filing a petition for review pursuant to the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328. This subsection does not apply to an order issued by consent.  (3) If a petition for review is not filed within the time period contained in subsection (2), the commissioner may modify, terminate, or set aside the order at any time with appropriate notice. If a petition for review is filed within the time period contained in subsection (2), the commissioner may modify, terminate, or set aside the order with the permission of the court.  (4) Unless otherwise specifically ordered by the court, a proceeding for review under this section does not stay an order issued by the commissioner. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.216 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)|Section 490.216 - Enforcement of Notice or Order; Court Jurisdiction.

490.216 Enforcement of notice or order; court jurisdiction. Sec. 216.  (1) The commissioner may apply to the circuit court of the county in which the principal office of a domestic credit union is located, or to the circuit court for Ingham county, for the enforcement of any effective and outstanding notice or order issued under section 210, 211, 212, 214, or 215, including any temporary cease and desist order issued under section 211(1).  (2) Only a court described in subsection (1) has jurisdiction to review, modify, enjoin, or stay the issuance or enforcement of any notice or order issued under section 210, 211, 212, 214, or 215 or to review, modify, suspend, terminate, or set aside the notice or order. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.217 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)|Section 490.217 - Person Subject to Notice or Order for Violation of Law; Prohibited Conduct; Violation as Misdemeanor; Penalty.

490.217 Person subject to notice or order for violation of law; prohibited conduct; violation as misdemeanor; penalty.Sec. 217.  (1) A person who is the subject of an outstanding and effective notice or final order for a violation of section 212(1), (2), or (3), section 214, or for a violation of any other law of this state that contains a grant of enforcement powers to the commissioner or the office of financial and insurance services, shall not do any of the following:  (a) Participate in any manner in the conduct of the affairs of the domestic credit union involved other than voting as an individual member of the domestic credit union.  (b) Serve or act as an official or employee of any domestic credit union.  (2) A person who violates subsection (1) is guilty of a misdemeanor punishable by imprisonment for not more than 1 year or a fine of not more than $5,000.00, or both.  (3) A person who willfully or intentionally violates any provision of this act for which specific punishment is not provided under this act is guilty of a misdemeanor and shall be imprisoned for not more than 6 months or shall be fined not less than $500.00 or more than $5,000.00, or both. History: 2003, Act 215, Eff. June 1, 2004 ;-- Am. 2004, Act 471, Imd. Eff. Dec. 28, 2004
MI Comp L § 490.218 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)|Section 490.218 - Report From Domestic Credit Union; Requirements; Notice; Failure of Domestic Credit Union to Report by Deadline; Fine.

490.218 Report from domestic credit union; requirements; notice; failure of domestic credit union to report by deadline; fine. Sec. 218.  (1) The commissioner may require any report from a domestic credit union that in the commissioner's judgment is necessary to fully inform the commissioner about the condition of the domestic credit union. The commissioner shall give the domestic credit union notice in writing that a report is required, describing the report and the deadline for submission. The commissioner shall deliver the notice to the domestic credit union at least 30 days before the deadline for submission, unless the commissioner determines that a shorter period of time is necessary to protect the public interest.  (2) If the domestic credit union fails to deliver to the commissioner a report required under subsection (1) by the deadline for submission, the commissioner may assess an administrative fine against the domestic credit union that does not exceed $1,000.00 for each day the report is delinquent. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.219 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)|Section 490.219 - Delivery of Order or Written Notice; Methods.

490.219 Delivery of order or written notice; methods. Sec. 219.  If the commissioner is required to serve an order or the commissioner or any person is required to provide a written notice under this act, the commissioner or person may use any delivery method reasonably calculated to give actual notice, including, but not limited to, any of the following:  (a) Physical delivery, in person or by first-class mail or other express delivery service.  (b) If the recipient of the notice agrees to delivery by that method, electronic delivery, by facsimile, electronic transmission, or other means approved by the commissioner. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.220 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)|Section 490.220 - Civil Fine; Assessment; Limitation; Commencement of Action by Attorney General; Determination of Amount of Fine; Conduct of Administrative Hearing.

490.220 Civil fine; assessment; limitation; commencement of action by attorney general; determination of amount of fine; conduct of administrative hearing. Sec. 220.  (1) Subject to subsection (2), if the commissioner finds that a credit union has violated this act or a rule promulgated under this act, the commissioner may assess a civil fine against the credit union or an official of the credit union of not more than $1,000.00 for each violation, plus the costs of investigation. Each injury to an individual or other person by a violation of this act or a rule is a separate violation.  (2) The commissioner may not assess civil fines under subsection (1) against a credit union or an official of the credit union that in the aggregate are more than $10,000.00, plus the costs of investigation, for multiple violations of this act or rules promulgated under this act that arise from the same transaction.  (3) The attorney general may commence an action to recover a civil fine assessed under subsection (1) or (2) by and in the name of the commissioner. The attorney general shall collect and enforce a civil fine and may utilize summary proceedings.  (4) In determining the amount of a fine under subsection (1) or (2), the commissioner shall consider the extent to which the violation was a knowing and willful violation and the extent of the injury suffered because of the violation. If the violation was committed by a credit union, the commissioner shall also consider any corrective action taken by the credit union to ensure that the violation will not be repeated and the record of the credit union in complying with this act.  (5) The commissioner shall conduct a proceeding under this section in accordance with the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.221 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-1 - Part 1 Administration, Supervision, and Enforcement (490.201...490.221)|Section 490.221 - Closure of Principal Place of Business or Branch; Existence of Emergency or Legal Holiday.

490.221 Closure of principal place of business or branch; existence of emergency or legal holiday.Sec. 221.  (1) The director may by order require a domestic credit union to close its principal place of business or 1 or more branches if it appears to the director that the action is required because an emergency exists. The facilities closed shall remain closed until the director by order finds that the emergency is ended. The director shall promptly notify the governor of the issuance of an order under this section.  (2) The director may authorize a domestic credit union to close on a day designated by the president of the United States or the governor of this state as a day of national mourning, rejoicing, or other special observance.  (3) If the director has not issued and does not issue an order of emergency under subsection (1) and the general manager or other designated officer of a domestic credit union determines that an emergency exists, the officer may close the principal place of business or 1 or more branches of the domestic credit union until he or she finds that the emergency is ended.  (4) A domestic credit union closing its principal place of business or 1 or more branches under this section shall give notice to the director, and to any other appropriate governmental entity if required by law.  (5) The period during which the principal place of business of a domestic credit union is closed under this section is considered an emergency condition or a legal holiday, and not a banking day, if the status of the closing as a legal holiday, banking day, or a response to an emergency is relevant to any legal obligation of the domestic credit union.  (6) This section does not alter any obligations of a domestic credit union to its employees or to the employees of another employer under state or federal law. History: 2003, Act 215, Eff. June 1, 2004 ;-- Am. 2016, Act 153, Eff. Sept. 7, 2016
MI Comp L § 490.231 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-2 - Part 2 Receivers (490.231...490.235)|Section 490.231 - Liquidation; Appointment of Federal Agency as Receiver.

490.231 Liquidation; appointment of federal agency as receiver. Sec. 231.  (1) Except as provided in subsection (2), a domestic credit union shall only be liquidated as provided in this part. A receiver or other liquidating agent shall only be appointed for a domestic credit union or its assets and property under this part.  (2) If a federal agency is appointed as receiver of a domestic credit union, the receivership procedures of the federal agency shall govern the receivership. History: 2003, Act 215, Eff. June 1, 2004
MI Comp L § 490.232 (2021)
2021 Michigan Compiled Laws|Chapter 490 - Credit Unions|Act 215 of 2003 - Credit Union Act (490.101 - 490.601)|Article 2 - Supervision by Commissioner (490.201...490.251)|215-2003-2-2 - Part 2 Receivers (490.231...490.235)|Section 490.232 - Appointment of Receiver; Conditions; Proceeding; Bond; Reporting Schedule; Subrogation of Federal Agency to Rights of Deposit Owners.

490.232 Appointment of receiver; conditions; proceeding; bond; reporting schedule; subrogation of federal agency to rights of deposit owners. Sec. 232.  (1) If a domestic credit union refuses to pay its shares, deposits, or obligations in accordance with the terms under which the shares were received or the deposits or obligations were incurred, becomes insolvent, or refuses to submit its books, papers, and records for inspection by the commissioner, or if it appears to the commissioner that the domestic credit union is in an unsafe or unsound condition, the commissioner may either appoint a conservator under section 241 or apply to the circuit court for Ingham county or for the county in which the principal place of business of the domestic credit union is located for the appointment of a receiver for the domestic credit union.  (2) In a proceeding for the appointment of a receiver, the court may act upon the application immediately and without notice to any person. If at any time it appears to the court that the claimed reasons for receivership do not exist, the court shall dissolve the receivership and terminate the proceedings.  (3) An insuring federal agency may act as receiver without bond. All other receivers, with the exception of an employee of the office of financial and insurance services appointed as receiver in his or her official capacity, shall post a bond in an amount determined by the court.  (4) A receiver shall report to the commissioner regarding all matters involving the receivership on a schedule established by the commissioner.  (5) If a domestic credit union is closed and placed in receivership, and the insuring federal agency pays or makes available for payment the insured shares and deposit liabilities of the closed domestic credit union, the agency, whether or not it has become receiver of the domestic credit union, is subrogated to all of the rights of the owners of the deposits against the closed domestic credit union in the same manner and to the same extent as subrogation of the agency is provided for under federal law. History: 2003, Act 215, Eff. June 1, 2004