Conduct by Financial Institution - Mich. Comp. Laws Section 400.234c
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400.234c Conduct by financial institution.
Sec. 4c.
This act does not prohibit a financial institution from doing any of the following:
(a) Assessing and collecting fees and other charges from an account holder or depositor including, but not limited to, fees and charges for the maintenance and activities on an account.
(b) Charging back or recouping a deposit to an account.
(c) Setting off a debt owed to the financial institution from an account held by the financial institution.
(d) Exercising a banker's lien on an account held by the financial institution for a debt owed to the financial institution.
(e) Disclosing information received from the office to an employee, agent, or representative of the financial institution or an affiliate of the financial institution for the purpose of complying with this act and otherwise dealing with a customer or account holder of the financial institution or an affiliate of the financial institution.
History: Add. 1998, Act 112, Eff. June 30, 1998
Section: 400.232 400.233 400.233a 400.233b 400.234 400.234a 400.234b 400.234c 400.235 400.236 400.237 400.238 400.239 400.240 400.241
Last modified: March 17, 2013
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