reglab/housing_qa huggingface dataset:
MI Comp L § 487.12104 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-1 - Part 1 Administration (487.12101...487.12109)|Section 487.12104 - Deputies; Appointment by Commissioner; Duties; Revocation.

487.12104 Deputies; appointment by commissioner; duties; revocation. Sec. 2104.  (1) The commissioner shall appoint a chief deputy who shall perform the duties of the commissioner during the commissioner's absence from the bureau. The commissioner may appoint other deputies as he or she considers appropriate and may delegate general or specific responsibilities under this act to the other deputies. The commissioner may designate that 1 or more of the other deputies perform the duties of the commissioner when both the commissioner and the chief deputy commissioner are absent from the bureau. The chief deputy and other deputies shall take and subscribe the constitutional oath of office and file it with the secretary of state.  (2) The commissioner may, at any time, revoke an appointment, designation, or delegation made under this section. History: 1999, Act 276, Eff. Mar. 1, 2000 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 487.12105 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-1 - Part 1 Administration (487.12101...487.12109)|Section 487.12105 - Employees; Appointment by Commissioner; Compensation; Duties; Revocation.

487.12105 Employees; appointment by commissioner; compensation; duties; revocation. Sec. 2105.  (1) The commissioner may appoint employees to carry out specific functions under this act. The compensation, travel, and other expenses of the commissioner, deputy commissioners, and employees shall be paid in the manner provided by law for other state officers and employees, within the appropriations made by the legislature.  (2) The commissioner may delegate to employees duties authorized to the commissioner under this act.  (3) The commissioner may, at any time, revoke any delegation made under this section. History: 1999, Act 276, Eff. Mar. 1, 2000 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 487.12107 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-1 - Part 1 Administration (487.12101...487.12109)|Section 487.12107 - Liability; Immunity.

487.12107 Liability; immunity. Sec. 2107.  The commissioner or any other employee of the bureau shall not be liable in any civil action for damages for any act done or omitted in good faith in performing the functions of his or her office. History: 1999, Act 276, Eff. Mar. 1, 2000 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 487.12108 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-1 - Part 1 Administration (487.12101...487.12109)|Section 487.12108 - Annual Report.

487.12108 Annual report. Sec. 2108.  For each calendar year the commissioner shall compile and publish an annual report in the form and containing information the commissioner determines necessary to reasonably summarize the operations of the bureau during the year. History: 1999, Act 276, Eff. Mar. 1, 2000 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 487.12109 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-1 - Part 1 Administration (487.12101...487.12109)|Section 487.12109 - Confidentiality; Disclosures.

487.12109 Confidentiality; disclosures. Sec. 2109.  (1) The commissioner and all deputies, agents, and employees of the bureau shall keep secret all facts and information obtained in the course of their duties, except if the person is required under law to report upon, take official action, or testify in any proceedings regarding the affairs of an institution. This subsection applies to all former commissioners, deputies, agents, and employees of the bureau.  (2) This section does not apply to, and does not prohibit the furnishing of information or documents to, the federal, foreign, or out-of-state bank, association, or savings bank regulatory agencies, and is not applicable to disclosures made in the public interest by the commissioner, at his or her discretion. History: 1999, Act 276, Eff. Mar. 1, 2000 Compiler's Notes: For transfer of authority, powers, duties, functions, and responsibilities of the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.
MI Comp L § 487.12201 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-2 - Part 2 General Powers (487.12201...487.12204)|Section 487.12201 - Rules.

487.12201 Rules. Sec. 2201.  The commissioner may promulgate rules under the administrative procedures act of 1969 as he or she considers necessary to effectuate the purposes and to enforce this act. History: 1999, Act 276, Eff. Mar. 1, 2000
MI Comp L § 487.12204 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-2 - Part 2 General Powers (487.12201...487.12204)|Section 487.12204 - Declaratory Rulings, Orders, or Determinations.

487.12204 Declaratory rulings, orders, or determinations. Sec. 2204.  (1) The commissioner may issue declaratory rulings in accordance with the administrative procedures act of 1969, or issue orders on applications by 1 or more banks to exercise powers not specifically authorized by this act that will authorize banks to exercise powers appropriate and necessary to compete with other providers of financial services.  (2) In the exercise of the discretion permitted by this section, the commissioner shall consider the ability of banks to exercise any additional power in a safe and sound manner, the authority of depository institutions operating under state or federal law or regulation, the powers of other competing entities providing financial services, and any specific limitations on bank powers contained in this act or in any other law of this state. The commissioner shall give notice, at least quarterly, to all banks of declaratory rulings, orders, or determinations issued during the preceding quarter under this section. History: 1999, Act 276, Eff. Mar. 1, 2000
MI Comp L § 487.12301 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-3 - Part 3 Enforcment Powers (487.12301...487.12315)|Section 487.12301 - Subpoena Powers.

487.12301 Subpoena powers. Sec. 2301.  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 bureau which shall require the person subpoenaed to appear and testify under oath to any matter related to the examination and to produce any relevant documents. History: 1999, Act 276, Eff. Mar. 1, 2000
MI Comp L § 487.12302 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-3 - Part 3 Enforcment Powers (487.12301...487.12315)|Section 487.12302 - Application.

487.12302 Application. Sec. 2302.  (1) A bank that seeks the commissioner's approval under section 2204, 3102, 3103, 3701, 3707, 3709, 4106, 4310, 4401, 5101, or 5102 shall submit an application to the bureau.  (2) The application shall contain information and be accompanied by documents as required by the bureau.  (3) If an application is considered incomplete by the bureau, it will either be returned for completion or the applicant will be requested to submit additional information as necessary to make the application complete.  (4) When the application is considered complete by the bureau, it shall be accepted and the process of reviewing its contents for a decision will begin on that date.  (5) The statutory period, as set forth in this section, regarding the issuance of orders by the commissioner shall commence on the date of acceptance of the application.  (6) If, subsequent to the date of acceptance, the applicant wishes to amend the application or supplement or provide additional material in connection with the application, the commissioner may suspend processing of the application or proceed with the statutory period for the issuance of an order.  (7) In connection with an application, the commissioner may consider additional information from any source.  (8) The commissioner shall approve or disapprove an application in writing within 100 days after the date of acceptance of an application, or the last amendment to the application. An order disapproving an application shall state the basis for disapproval.  (9) An applicant who is dissatisfied with an order of the commissioner, or an institution that is dissatisfied with an objection issued under section 3711 or 3713, may submit a written request for a reconsideration of the order or objection stating the reasons for the request. The request must be received by the bureau within 5 days after the date of the order or objection. The commissioner, within 10 days of receiving the request for reconsideration, shall render a decision on the request for reconsideration. If a petition for reconsideration is granted, the commissioner shall grant the applicant 10 days to file written arguments or briefs. The commissioner may allow for oral argument after granting a petition for reconsideration. The oral argument shall be held within 10 days after granting the petition. The commissioner shall issue a final order, objection, or withdrawal of an objection within 20 days after granting the petition for reconsideration.  (10) Appeal of an order or objection shall not be made by an applicant without first requesting a reconsideration of the order or objection. History: 1999, Act 276, Eff. Mar. 1, 2000
MI Comp L § 487.12303 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-3 - Part 3 Enforcment Powers (487.12301...487.12315)|Section 487.12303 - Reconsideration of Order, Ruling, or Finding; Hearing.

487.12303 Reconsideration of order, ruling, or finding; hearing. Sec. 2303.  (1) Except with respect to rules promulgated under section 2201, a cease and desist order made under sections 2304 to 2314, an order made on an application seeking approval of the commissioner under section 2302(1), or an objection issued under section 3711 or 3713, an institution that is dissatisfied with an order, ruling, or finding issued by the commissioner may request a reconsideration of the order, ruling, or finding within 10 days after the issuance of the order, ruling, or finding. The commissioner may conduct a formal hearing before the issuance of an order, ruling, or finding. Within 30 days after the receipt of a written request for reconsideration, the commissioner shall hold a formal hearing unless a formal hearing has been held before the issuance of the order, ruling, or finding.  (2) A hearing held under subsection (1) shall be conducted under the administrative procedures act of 1969. History: 1999, Act 276, Eff. Mar. 1, 2000
MI Comp L § 487.12304 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-3 - Part 3 Enforcment Powers (487.12301...487.12315)|Section 487.12304 - Notice of Charges; Hearing; Issuance of Order to Cease and Desist; Enforcement; Notice to Comptroller of Currency and Attorney General.

487.12304 Notice of charges; hearing; issuance of order to cease and desist; enforcement; notice to comptroller of currency and attorney general. Sec. 2304.  (1) If in the opinion of the commissioner an institution is engaging, has engaged, or is about to engage in an unsafe or unsound practice in conducting the business of the institution or is violating, has violated, or is about to violate a law or rule, the commissioner may issue and serve upon the institution a notice of charges. The notice shall contain a statement of the facts constituting the alleged unsafe or unsound practice or violation, and shall fix a time and place for a hearing to determine whether an order to cease and desist should issue. The hearing shall be not earlier than 30 days nor later than 60 days after service of the notice unless an earlier or later date is set by the commissioner at the request of the institution. If the institution does not appear at the hearing by a duly authorized representative, it shall be considered to have consented to the issuance of a cease and desist order.  (2) In the event of consent, or if upon the record made at the hearing the commissioner finds that an unsafe or unsound practice or violation specified in the notice of charges has been established, the commissioner may issue and serve upon the institution an order to cease and desist from the practice or violation. The order may require the institution and its directors, officers, employees, and agents to cease and desist from the practice or violation and to take affirmative action to correct the conditions resulting from the practice or violation.  (3) A cease and desist order becomes effective 30 days after the service of the order upon the institution, except in the case of an order issued upon consent which shall become effective at the time specified in the order, and shall remain effective and enforceable as provided in the order, except to the extent it is stayed, modified, terminated, or set aside by action of the commissioner or a reviewing court.  (4) If the commissioner determines that an out-of-state bank branch located in this state is acting in violation of the laws of this state or that the activities of the branch are being conducted in an unsafe and unsound manner, the commissioner may undertake enforcement actions and proceedings as would be permitted if the branch were a bank.  (5) If the commissioner determines that a national bank is acting in violation of the laws of this state, the commissioner shall notify the comptroller of the currency and the attorney general. History: 1999, Act 276, Eff. Mar. 1, 2000
MI Comp L § 487.12305 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-3 - Part 3 Enforcment Powers (487.12301...487.12315)|Section 487.12305 - Temporary Cease and Desist Order.

487.12305 Temporary cease and desist order. Sec. 2305.  (1) If the commissioner determines that the violation or threatened violation or the unsafe or unsound practice or practices, specified in the notice of charges served upon the institution under section 2304(1), or the continuation of the violation or practice, is likely to cause insolvency or substantial dissipation of assets or earnings of the institution, or is likely to otherwise seriously prejudice the interests of its depositors, the commissioner may issue a temporary order requiring the institution to cease and desist from any violation or practice. The order shall become effective upon service upon the institution and, unless set aside, limited, or suspended by a court in proceedings authorized by subsection (2), shall remain effective and enforceable pending the completion of the proceedings under section 2304.  (2) Within 10 days after the institution has been served with a temporary cease and desist order, the institution may apply to the circuit court for the county in which the principal office of the institution 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 2304. The court shall have jurisdiction to issue the injunction. History: 1999, Act 276, Eff. Mar. 1, 2000
MI Comp L § 487.12307 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-3 - Part 3 Enforcment Powers (487.12301...487.12315)|Section 487.12307 - Stay of Suspension or Prohibition; Issuance by Court.

487.12307 Stay of suspension or prohibition; issuance by court. Sec. 2307.  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 institution under section 2306(3), the person may apply to the Ingham county circuit court or the circuit court for the county in which the principal office of the institution is located for a stay of the suspension or prohibition pending the completion of the administrative proceedings pursuant to the notice served upon the person under section 2306(1) or (2) and the court shall have jurisdiction to stay the suspension or prohibition. History: 1999, Act 276, Eff. Mar. 1, 2000
MI Comp L § 487.12308 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-3 - Part 3 Enforcment Powers (487.12301...487.12315)|Section 487.12308 - Conduct Involving Felony or Misdemeanor Charge; Order of Removal or Prohibition.

487.12308 Conduct involving felony or misdemeanor charge; order of removal or prohibition.Sec. 2308.  If any person participating in the conduct of the affairs of an institution is charged in any information, indictment, warrant, or complaint by a county, state, or federal authority with the commission of, or participation in, a felony or misdemeanor that involves fraud, dishonesty, or breach of trust, the director, by written notice served upon the person may suspend the person from office or prohibit the person from further participation in any manner in the conduct of the affairs of the institution. A copy of the notice shall also be served upon the institution. The suspension or prohibition is in effect until the information, indictment, warrant, or complaint is finally disposed of or until terminated by the director. If a judgment of conviction with respect to the offense is entered against the person, and when the judgment is not subject to further appellate review, the director may issue an order removing the person from office or prohibiting the person from further participation in the conduct of the affairs of the institution except with the consent of the director. The person shall cease to be a director or officer of the institution when a copy of the order is served upon the institution. A finding of not guilty or other disposition of the charge shall not preclude the director from instituting proceedings to suspend or remove the person from office or to prohibit further participation in institution affairs under section 2306(1), (2), or (3). History: 1999, Act 276, Eff. Mar. 1, 2000 ;-- Am. 2016, Act 175, Eff. Sept. 12, 2016
MI Comp L § 487.12309 (2021)
2021 Michigan Compiled Laws|Chapter 487 - Financial Institutions|Act 276 of 1999 - Banking Code of 1999 (487.11101 - 487.15105)|276-1999-2 - Chapter 2 Financial Institutions Bureau (487.12101...487.12410)|276-1999-2-3 - Part 3 Enforcment Powers (487.12301...487.12315)|Section 487.12309 - Quorum of Board of Directors.

487.12309 Quorum of board of directors. Sec. 2309.  If at any time, because of the suspension or removal of 1 or more directors under this act, the board of directors of an institution has less than a quorum of directors, all powers and functions vested in or exercisable by the board shall vest in and be exercisable by the directors on the board not suspended or removed, until there is a quorum of the board of directors. If all of the directors of an institution are suspended or removed under this act, the commissioner shall appoint persons to serve temporarily as directors pending the termination of the suspensions or removals, or until their successors are duly elected and take office. History: 1999, Act 276, Eff. Mar. 1, 2000