Fee; Limitation; Prohibition - Mich. Comp. Laws Section 487.2105
Legal Research Home >
Michigan Laws > Financial Institutions > Fee; Limitation; Prohibition - Mich. Comp. Laws Section 487.2105
487.2105 Fee; limitation; prohibition.
Sec. 5.
(1) Beginning January 1, 1994, the department may charge a participating financial institution a reasonable fee not greater than the actual costs of administering the direct deposit program or a fee of 25 cents, whichever is less, for each transaction and prenotification. The department shall not charge or impose any fee on a participating state employee, state college or university, or state retirement recipient.
(2) A financial institution that electronically pays to the state its sales, use, and withholding taxes shall not be charged a fee to participate in a program under this act.
History: Add. 1993, Act 100, Imd. Eff. July 13, 1993
;--
Am. 2000, Act 495, Imd. Eff. Jan. 11, 2001
Section: 487.2070 487.2071 487.2072 487.2101 487.2102 487.2103 487.2104 487.2105 487.2121 487.2122 487.2131 487.2132 487.2133 487.2134 487.2135
Last modified: March 17, 2013
|
