Michigan Laws 487.3309 – Mutual savings bank; membership

Ask a legal question, get an answer ASAP!
Click here to chat with a lawyer about your rights.

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
Savings bank: means a state banking corporation organized or reorganized under this act. See Michigan Laws 487.3103

The membership of a mutual savings bank shall consist solely of every depositor or holder of a deposit account issued by the savings bank.