SENATE BILL No. 769

October 23, 2001, Introduced by Senators LELAND, PETERS, SMITH, EMERSON, HART, KOIVISTO, CHERRY, SCOTT, DINGELL, DE BEAUSSAERT and MILLER and

referred to the Committee on Banking and Financial Institutions.

A bill to amend 1996 PA 354, entitled

"Savings bank act,"

(MCL 487.3101 to 487.3804) by adding section 435.

THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

1 SEC. 435. A SAVINGS BANK IS SUBJECT TO AND SHALL COMPLY

2 WITH ALL OF THE REQUIREMENTS OF THE MICHIGAN PREDATORY LENDING

3 PRACTICES ACT.

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