August 27, 2009, Introduced by Senators SANBORN, RICHARDVILLE, OLSHOVE, ANDERSON, WHITMER and PRUSI and referred to the Committee on Banking and Financial Institutions.
A bill to amend 2003 PA 215, entitled
"Credit union act,"
(MCL 490.101 to 490.601) by adding section 413.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 413. If a domestic credit union that made an error in
dispensing money from a customer's account subsequently debits or
withdraws money from the account to correct the error, the domestic
credit union shall within 48 hours inform each account holder of
that debit or withdrawal.