October 11, 2007, Introduced by Reps. Dean, Angerer, Miller, Clack, Simpson, Byrnes, Jackson, Melton, Johnson, Young, Accavitti, Kathleen Law, Constan, Hopgood, Brown, Meisner, Robert Jones, Bieda, Vagnozzi, Leland, Donigan and Bauer and referred to the Committee on Banking and Financial Services.
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:
Sec. 435. (1) The home loan protection act applies to a
savings bank. A savings bank shall comply with the requirements of
that act in connection with any home loans.
(2) In addition to any penalties and remedies provided by this
act, a savings bank is also subject to the remedy and penalty
provisions of the home loan protection act for a violation of
subsection (1).
(3) As used in this section:
(a) "Home loan" means that term as defined in section 2 of the
home loan protection act, MCL 445.1632.
(b) "Home loan protection act" means the home loan protection
act, 2002 PA 660, MCL 445.1631 to 445.1642.
Enacting section 1. This amendatory act does not take effect
unless all of the following bills of the 94th Legislature are
enacted into law:
(a) Senate Bill No.____ or House Bill No. 5294(request no.
02456'07 *).
(b) Senate Bill No.____ or House Bill No. 5295(request no.
04909'07 *).
(c) Senate Bill No.____ or House Bill No. 5296(request no.
04910'07 *).
(d) Senate Bill No.____ or House Bill No. 5297(request no.
04911'07 *).
(e) Senate Bill No.____ or House Bill No. 5298(request no.
04912'07 *).
(f) Senate Bill No.____ or House Bill No. 5299(request no.
04913'07 *).
(g) Senate Bill No.____ or House Bill No. 5300(request no.
05435'07).
(h) Senate Bill No.____ or House Bill No. 5301(request no.
05436'07).
(i) Senate Bill No.____ or House Bill No. 5302(request no.
05437'07).
(j) Senate Bill No.____ or House Bill No. 5303(request no.
05438'07).