Michigan § 487.13108 - Capital adequacy; requirements.
Full text of Michigan Michigan Compiled Laws § 487.13108 — Capital adequacy; requirements., with citation guidance and answers to common questions.
§ 487.13108. Capital adequacy; requirements.
A bank organized under this act shall have capital in an amount the commissioner considers adequate to conduct its business.
A bank shall not be authorized to commence business until it has surplus at least equal to 20% of its capital.
After organization, each bank shall maintain an adequate capital structure appropriate to conduct its business and the protection of its depositors. The capital adequacy of a bank shall be analyzed and appraised in relation to the character of its management, the liquidity of assets, history of earnings and of the retention of earnings, the potential volatility of the deposit structure, and its risk management, with due regard to the bank's capacity to furnish the broadest service to the public.
At all times a bank shall maintain surplus in an amount equal to at least the amount of its capital, except as provided in subsection (2) and except as provided in section 3806, and shall not reduce surplus without the approval of the commissioner.
Frequently Asked Questions About Michigan § 487.13108
What does Michigan Compiled Laws § 487.13108 cover?
Section 487.13108 ("Capital adequacy; requirements.") 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 § 487.13108?
A common citation format is "Michigan Compiled Laws § 487.13108" (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 § 487.13108 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.