Section 491.1128 - Conduct constituting misdemeanor; penalty; disposition of fines. - Michigan Statutes

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

491.1128 Conduct constituting misdemeanor; penalty; disposition of fines.

Sec. 1128.

A person who acts as agent for a foreign association not authorized to transact business in this state, and a person aiding in the transaction of the business of the association in this state is guilty of a misdemeanor, punishable by a fine of not less than $50.00, nor more than $500.00 for each offense. A person who fails to pay the fine is subject to imprisonment for not more than 1 year. Except as otherwise provided by law, all fines collected under this section shall be paid into the general fund.

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