Michigan § 490.235 - Disposal of obsolete and unnecessary records; maintenance methods; reservation, deposit, and use of assets.
Full text of Michigan Michigan Compiled Laws § 490.235 — Disposal of obsolete and unnecessary records; maintenance methods; reservation, deposit, and use of assets., with citation guidance and answers to common questions.
§ 490.235. Disposal of obsolete and unnecessary records; maintenance methods; reservation, deposit, and use of assets.
If approved by the court, a receiver appointed under this part may dispose of records of a domestic credit union in receivership that are obsolete and unnecessary to the continued administration of the receivership proceeding and retain the remaining records of the domestic credit union and the receivership for a period of time as ordered by the court.
A receiver appointed under this part may devise a method for the effective, efficient, and economical maintenance of the records of the domestic credit union and of the receiver's office, including maintaining those records on any medium approved by the court.
A receiver appointed under this part may reserve assets of a liquidated domestic credit union, deposit them in an account, and use them to maintain the records of a liquidated domestic credit union after the closing of the receivership proceeding.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 490.235
What does Michigan Compiled Laws § 490.235 cover?
Section 490.235 ("Disposal of obsolete and unnecessary records; maintenance methods; reservation, deposit, and use of assets.") 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 § 490.235?
A common citation format is "Michigan Compiled Laws § 490.235" (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 § 490.235 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.