Michigan Laws 487.2105 – Fee; limitation; prohibition
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(1) Beginning January 1, 1994, the department may charge a participating financial institution a reasonable fee not greater than the actual costs of administering the direct deposit program or a fee of 25 cents, whichever is less, for each transaction and prenotification. The department shall not charge or impose any fee on a participating state employee, state college or university, or state retirement recipient.
(2) A financial institution that electronically pays to the state its sales, use, and withholding taxes shall not be charged a fee to participate in a program under this act.
Terms Used In Michigan Laws 487.2105
- College or university: means a state-supported college or university. See Michigan Laws 487.2101
- Department: means the department of treasury. See Michigan Laws 487.2101
- Financial institution: means a state or nationally chartered bank, a state or federally chartered savings and loan association or savings bank, or a state or federally chartered credit union. See Michigan Laws 487.2101
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- State employee: means a classified or unclassified member of the state civil service or an unclassified employee of the executive, legislative, or judicial branch of state government. See Michigan Laws 487.2101