{"data":{"id":"us-mi/mich.-comp.-laws-487.12401","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 487.12401","heading":"Liquidation; receiver or other liquidating agent.","body":"Sec. 2401.\n\nExcept as provided in subsection (2), a bank subject to this act shall not be liquidated except as provided by this act. A receiver or other liquidating agent shall not be appointed for a bank or its assets and property except as provided in this act.\n\nIf the federal deposit insurance corporation is appointed as receiver of a bank, the receivership procedures of the federal deposit insurance corporation shall govern the receivership.","path":["MI Code","Chapter 487","Act Act-276-of-1999"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-487-12401","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"5761df75a2300a7d3474f471ae009bc60096b78a8a28de498406b0cfea18f1d2","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-487.12315","next":"us-mi/mich.-comp.-laws-487.12402"},"notice":"GroundRules: Original legal text. Not legal advice."}