{"data":{"id":"us-mi/mich.-comp.-laws-487.12409","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 487.12409","heading":"Authority of conservator to borrow money; purpose.","body":"Sec. 2409.\n\nWith the prior approval of the commissioner, the conservator of a bank may borrow money as necessary or expedient in aiding the operation, reorganization, or liquidation of the bank, including the payment of liquidating dividends, and may secure the loans by the pledge, hypothecation, or mortgage of the assets of the bank.","path":["MI Code","Chapter 487","Act Act-276-of-1999"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-487-12409","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"31456f01d8363b5d783493907d5914667893ccba66ea7be76b800565bcc6a76a","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-487.12408","next":"us-mi/mich.-comp.-laws-487.12410"},"notice":"GroundRules: Original legal text. Not legal advice."}