Michigan § 487.12101 - Financial institutions bureau; creation; jurisdiction; commissioner; appointment; duties; seal; other employment.
Full text of Michigan Michigan Compiled Laws § 487.12101 — Financial institutions bureau; creation; jurisdiction; commissioner; appointment; duties; seal; other employment., with citation guidance and answers to common questions.
§ 487.12101. Financial institutions bureau; creation; jurisdiction; commissioner; appointment; duties; seal; other employment.
A financial institutions bureau is created within the department of consumer and industry services, and the bureau shall have jurisdiction over and administer the laws relating to financial institutions transacting business in this state.
The head of the financial institutions bureau is the commissioner who shall be appointed by the governor, with the advice and consent of the senate, to serve at the pleasure of the governor.
Before assuming the duties of office, the commissioner shall take and subscribe the constitutional oath of office and file it with the secretary of state.
The commissioner shall approve a seal for the use of the bureau. A description and impression of the seal shall be filed with the secretary of state.
The commissioner is prohibited for a period of 6 months from the date he or she leaves office from accepting employment with a state chartered depository financial institution regulated by the bureau.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 487.12101
What does Michigan Compiled Laws § 487.12101 cover?
Section 487.12101 ("Financial institutions bureau; creation; jurisdiction; commissioner; appointment; duties; seal; other employment.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 487.12101?
A common citation format is "Michigan Compiled Laws § 487.12101" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 487.12101 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.