Michigan Compiled Laws § 487.13507 Procurement Of Loan; Receipt Of Gratuity Or Consideration Prohibited.

487.13507 Procurement of loan; receipt of gratuity or consideration prohibited.

Sec. 3507.

An officer, director, or employee of a bank shall not receive, or consent, or agree to receive from a customer of the bank any consideration or gratuity in return for the procurement of a loan or other service from the bank.

History: 1999, Act 276, Eff. Mar. 1, 2000

Section: Previous  487.13501  487.13502  487.13503  487.13504  487.13505  487.13506  487.13507  

Last modified: October 10, 2016