Michigan Laws 487.3318 – Records
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(1) Each savings bank shall keep correct and complete books and records of accounts.
(2) Each mutual savings bank shall maintain membership records which shall show the name and address of the member and date of membership.
Terms Used In Michigan Laws 487.3318
- Bank: means a state banking corporation organized or reorganized under the provisions of the banking code of 1999, 1999 PA 276, MCL 487. See Michigan Laws 487.3102
- Member: means a person holding a savings account of a mutual savings bank. See Michigan Laws 487.3103
- Mutual savings bank: means a savings bank for which the articles of incorporation do not authorize the issuance of common or preferred stock. See Michigan Laws 487.3103