Michigan Compiled Laws Act 2 Of 1935 Loans Under National Housing Act (487.751 - 487.753)

AN ACT to authorize loans, advances of credit and purchases in accordance with the provisions of an act of Congress, entitled “National Housing Act,” approved by the President on June 27, 1934, and any acts amendatory thereof or supplemental thereto; and prescribing the effect of this act.

History: 1935, Act 2, Imd. Eff. Feb. 20, 1935

Section 487.751 National Housing Act; State Financial Institutes' Authorized Transactions; Collateral.
Subject to such regulations as may be prescribed by the proper state supervising authority, banks, trust companies, building and loan associations, insurance companies, finance...
Section 487.752 Construction Of Act As To Effect Of State Laws.
No law of this state prescribing the nature, amount or form of security or deposit, or requiring security upon which loans or advances of...
Section 487.753 Declaration Of Necessity.
This act is immediately necessary for the preservation of the public welfare, peace, health and safety. History: 1935, Act 2, Imd. Eff. Feb. 20,...

Last modified: October 10, 2016