Michigan Compiled Laws § 380.1222 Deposit Of District Funds; Limitation.

380.1222 Deposit of district funds; limitation.

Sec. 1222.

A bank whose combined capital and surplus exceeds $50,000.00 may receive deposits of funds in an amount not more than double the combined capital and unimpaired surplus of the bank.

History: 1976, Act 451, Imd. Eff. Jan. 13, 1977
Popular Name: Act 451

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Last modified: October 10, 2016