Bill Text: MI HB5836 | 2011-2012 | 96th Legislature | Chaptered
Bill Title: Financial institutions; savings and loan associations; electronic funds transfer terminal statute; revise citations to savings and loan act. Amends sec. 2 of 1978 PA 322 (MCL 488.2). TIE BAR WITH: HB 5835'12
Spectrum: Partisan Bill (Republican 1-0)
Status: (Passed) 2012-12-31 - Assigned Pa 449'12 With Immediate Effect 2012 Addenda [HB5836 Detail]
Download: Michigan-2011-HB5836-Chaptered.html
Act No. 449
Public Acts of 2012
Approved by the Governor
December 20, 2012
Filed with the Secretary of State
December 27, 2012
EFFECTIVE DATE: December 31, 2012
STATE OF MICHIGAN
96TH LEGISLATURE
REGULAR SESSION OF 2012
Introduced by Rep. Jenkins
ENROLLED HOUSE BILL No. 5836
AN ACT to amend 1978 PA 322, entitled “An act to authorize financial institutions to make electronic funds transfer terminals available to their customers; to protect the privacy and security of customers; to prohibit unfair discrimination among financial institutions and monopolistic practices in the use and availability of electronic funds transfer terminals; to prescribe remedies; and to prescribe penalties,” by amending section 2 (MCL 488.2), as amended by 2003 PA 220.
The People of the State of Michigan enact:
Sec. 2. (1) “Available” means all deposit account functions that are performed from time to time by the particular electronic funds transfer terminal.
(2) “Bank” means that term as defined in section 1201 of the banking code of 1999, 1999 PA 276, MCL 487.11201, or a national banking association that is established under the laws of the United States and has its main office in this state.
(3) “Branch” means any of the following:
(a) For a state credit union, a branch as defined in section 102 of the credit union act, 2003 PA 215, MCL 490.102, and a service center as defined in section 103 of the credit union act, 2003 PA 215, MCL 490.103.
(b) For a federal credit union, a branch as defined in section 101 of the federal credit union act, 12 USC 1752, and applicable regulations.
(c) For a federal savings and loan association, a branch office as defined by the regulations of the federal home loan bank board pursuant to the federal home loan bank act, 12 USC 1421 to 1449, but does not include a mobile facility, satellite office, or an agency established after January 1, 1979.
(d) For a state bank, a branch as defined in section 1201 of the banking code of 1999, 1999 PA 276, MCL 487.11201.
(e) For a national banking association, a branch as defined in 12 USC 36.
(4) “Consumer finance company” means a licensee under the regulatory loan act, 1939 PA 21, MCL 493.1 to 493.24.
Enacting section 1. This amendatory act takes effect December 31, 2012.
Enacting section 2. This amendatory act does not take effect unless House Bill No. 5835 of the 96th Legislature is enacted into law.
This act is ordered to take immediate effect.
Clerk of the House of Representatives
Secretary of the Senate
Approved
Governor
