Michigan Compiled Laws 215-2003-1 Article 1 General Provisions (490.101...490.105)

• Section 490.101 Short Title.
  This act shall be known and may be cited as the “credit union act”. History: 2003, Act 215, Eff. June 1, 2004
• Section 490.102 Definitions; A To I.
  As used in this act: (a) "Affiliate" means a person, other than an individual or governmental entity, to which any of the following apply:...
• Section 490.103 Definitions; M To S.
  As used in this act: (a) “Membership share” means a share of a domestic credit union equal in amount to the par value of...
• Section 490.104 "Credit Union"; Use In Name Or Title; Restrictions; "Corporate" Or "Corporate Central"; Use In Name.
  (1) A person shall not use the words "credit union" in its name or any assumed names, unless it is 1 of the following:...
• Section 490.105 Domestic Credit Union; Exemption From Tax; Exception; Stock Transfer Tax.
  A domestic credit union is exempt from taxation by this state or a political subdivision of this state except property taxes on real property....

Last modified: October 10, 2016