Michigan Compiled Laws 276-1999-3-3 Part 3 Dissolution (487.13301...487.13307)

• Section 487.13301 Proposed Resolution Of Dissolution; Certificate Of Termination; Designation Of Liquidating Agent Or Committee; Reports; Examination By Commissioner; Filing Of Certificate; Termination.
  (1) A solvent bank may go into dissolution and be closed upon expiration of its corporate term or by the vote of its shareholders....
• Section 487.13302 Bank In Dissolution As Body Corporate.
  (1) A bank that begins dissolution under section 3301 shall continue to be a body corporate until the commissioner certifies and files the certificate...
• Section 487.13303 Bank In Dissolution; Function Of Officers, Directors, And Shareholders.
  (1) Subject to section 3302 or as otherwise provided by the commissioner, a bank in dissolution, it officers, directors, and shareholders shall continue to...
• Section 487.13304 “existing Claim” And “existing Claimant” Defined; Notice To Depositors And Creditors; Existing Claims; Effective Date Of Written Notice.
  (1) As used in this section: (a) “Existing claim” means a claim or right against the bank in dissolution, liquidated, or unliquidated. It does...
• Section 487.13305 “claim” And “claimant” Defined; Notice Of Dissolution; Publication; Requirements.
  (1) As used in this section: (a) “Claim” means a claim or right against the bank in dissolution, liquidated or unliquidated, of a claimant...
• Section 487.13306 Court Supervision Of Bank In Dissolution.
  (1) After a bank has commenced dissolution, the commissioner, the bank in dissolution, a creditor, or a shareholder may apply to an appropriate court...
• Section 487.13307 Debts, Obligations, And Liabilities.
  (1) A bank in dissolution or its liquidating agent or committee shall act on all claims filed and notify all claimants of the action...

Last modified: October 10, 2016