Michigan § 490.218 - Report from domestic credit union; requirements; notice; failure of domestic credit union to report by deadline; fine.
Full text of Michigan Michigan Compiled Laws § 490.218 — Report from domestic credit union; requirements; notice; failure of domestic credit union to report by deadline; fine., with citation guidance and answers to common questions.
§ 490.218. Report from domestic credit union; requirements; notice; failure of domestic credit union to report by deadline; fine.
The commissioner may require any report from a domestic credit union that in the commissioner's judgment is necessary to fully inform the commissioner about the condition of the domestic credit union. The commissioner shall give the domestic credit union notice in writing that a report is required, describing the report and the deadline for submission. The commissioner shall deliver the notice to the domestic credit union at least 30 days before the deadline for submission, unless the commissioner determines that a shorter period of time is necessary to protect the public interest.
If the domestic credit union fails to deliver to the commissioner a report required under subsection (1) by the deadline for submission, the commissioner may assess an administrative fine against the domestic credit union that does not exceed $1,000.00 for each day the report is delinquent.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 490.218
What does Michigan Compiled Laws § 490.218 cover?
Section 490.218 ("Report from domestic credit union; requirements; notice; failure of domestic credit union to report by deadline; fine.") 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 § 490.218?
A common citation format is "Michigan Compiled Laws § 490.218" (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 § 490.218 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.