Michigan § 487.14105 - Permitted services or activities.
Full text of Michigan Michigan Compiled Laws § 487.14105 — Permitted services or activities., with citation guidance and answers to common questions.
§ 487.14105. Permitted services or activities.
A bank may perform for others 1 or more of the following services or activities, and any other services or activities permitted by order or declaratory ruling of the commissioner:
Provide life, health, and casualty insurance for officers and employees of financial institutions and operate bonus plans and retirement benefit plans for those officers and employees.
Service mortgages and land contracts.
Originate and service mortgage loans, mortgages, and land contracts, on behalf of financial institutions, corporations, and state or federal agencies or instrumentalities.
Act as escrow agent or depository for other escrow agents or fiduciaries.
Conduct credit analysis, appraising, construction loan inspection, and abstracting.
Conduct research, studies, and surveys.
Develop and operate storage facilities for microfilm or other duplicate records.
Advertise, broker, and conduct other activities to procure and retain both deposits and loans, but not pool deposits or solicit or promote pooled deposits.
Provide liquidity management, investment, advisory, and consulting services.
Establish, own, lease, operate, or maintain electronic funds transfer terminals.
Purchase office supplies, furniture, and equipment.
Prepare local, state, and federal tax returns.
Perform data processing services.
Subject to applicable state or federal law, provide brokerage services for the offer, sale, or purchase of a security or commodity contract.
Frequently Asked Questions About Michigan § 487.14105
What does Michigan Compiled Laws § 487.14105 cover?
Section 487.14105 ("Permitted services or activities.") 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 § 487.14105?
A common citation format is "Michigan Compiled Laws § 487.14105" (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 § 487.14105 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.