MCL - Act 344 of 2020


Act 344 of 2020

AN ACT to require financial institutions to report financial exploitation of their customers or members; to allow financial institutions to freeze customer or member transactions or assets under certain circumstances; to provide immunity from criminal, civil, or administrative liability to financial institutions for actions taken in good faith under this act; and to provide for the powers and duties of certain governmental officers and entities.

History: 2020, Act 344, Eff. Sept. 26, 2021

The People of the State of Michigan enact:
Document Type Description
Section 487.2081 Section Short title.
Section 487.2083 Section Definitions.
Section 487.2085 Section Training for signs of covered financial exploitation of members or customers; requirements; reporting; notification; disclosure and identification of reporting individual.
Section 487.2087 Section Investigations; delay or freeze on transactions; exception.
Section 487.2089 Section Examination and enforcement authority.
Section 487.2091 Section Construction of act.