Section 491.526 - Net worth structure. - Michigan Statutes

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

491.526 Net worth structure.

Sec. 526.

Each association shall maintain an adequate net worth structure appropriate for the conduct of its business and the protection of its depositors. As determined by the supervisor, the net worth adequacy of an association shall be analyzed and appraised in relation to the character of its management, the liquidity of assets, history of earnings and of the retention thereof, the potential volatility of the deposit structure, and the association's capacity to furnish the broadest service to the public.

History: 1980, Act 307, Eff. Jan. 1, 1981 ;-- Am. 1981, Act 114, Imd. Eff. July 17, 1981 ;-- Am. 1987, Act 106, Imd. Eff. July 7, 1987