{"data":{"id":"us-mi/mich.-comp.-laws-487.12315","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 487.12315","heading":"Foreign bank; prohibited conduct.","body":"Sec. 2315.\n\nIf, in the opinion of the commissioner, a foreign bank is engaging, has engaged, or is about to engage, in an unsafe or unsound practice in conducting the business of a state agency, state foreign bank branch, or foreign bank representative office, or is violating, has violated, or is about to violate, a state or federal law or a state or federal rule or regulation, the commissioner may issue and serve upon the foreign bank a notice of intent to revoke the foreign bank's authority to engage in the business of banking in this state. The notice shall contain a statement of the facts constituting the alleged unsafe or unsound practice or violation and inform the foreign bank of its right to request a hearing within 10 days.\n\nIf the foreign bank timely requests a hearing, the commissioner shall hold a hearing in accordance with the administrative procedures act of 1969.\n\nWithin 60 days after the date of the hearing, the commissioner shall file a written decision containing his or her findings and serve a copy upon the foreign bank.","path":["MI Code","Chapter 487","Act Act-276-of-1999"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-487-12315","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"a4bac08142e225d698ea761a9189e5810b70597bea112c761d20c916066687e2","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-487.12314","next":"us-mi/mich.-comp.-laws-487.12401"},"notice":"GroundRules: Original legal text. Not legal advice."}