Michigan § 487.14109 - Bank agent; activities.
Full text of Michigan Michigan Compiled Laws § 487.14109 — Bank agent; activities., with citation guidance and answers to common questions.
§ 487.14109. Bank agent; activities.
An agent of a bank described in section 4101(1)(e) may engage in any of the following activities:
Accept a deposit to an existing account and record the addition to the account or give other evidence of receipt as prescribed by the bank.
Accept a withdrawal form and other evidence required by the bank from an account holder for transmission to the bank.
Solicit and accept a new account. Evidence of account ownership shall be issued only by authority of the bank. An agent may obtain signature cards from the bank for the account holder. An agent of a bank shall not possess an unissued or blank authenticated savings account passbook or certificate or other evidence of account ownership.
Solicit and accept an application for a loan or for a land contract purchase. The agent shall submit the application to the bank for processing and approval.
Disburse withdrawn or loaned funds, upon approval of each disbursement by the bank.
Accept payment on a loan or on a land contract and issue evidence of receipt as prescribed by the bank.
Any other services as approved by order or declaratory ruling of the commissioner.
Frequently Asked Questions About Michigan § 487.14109
What does Michigan Compiled Laws § 487.14109 cover?
Section 487.14109 ("Bank agent; 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 § 487.14109?
A common citation format is "Michigan Compiled Laws § 487.14109" (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 § 487.14109 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.