Section 491.1104 - Rights of association to take action to avoid loss. - Michigan Statutes

SAVINGS AND LOAN ACT OF 1980 (EXCERPT)
Act 307 of 1980

491.1104 Rights of association to take action to avoid loss.

Sec. 1104.

Subject to section 458, this act shall not be construed to deny an association the right to invest its funds, operate a business, manage or deal in property, or take any other action over whatever period of time may reasonably be necessary to avoid loss on a loan or investment made or an obligation created in good faith before the effective date of this act.

History: 1980, Act 307, Eff. Jan. 1, 1981