{"data":{"id":"us-mi/mich.-comp.-laws-487.14306","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 487.14306","heading":"Lease, purchase, holding, and conveyance of real property.","body":"Sec. 4306.\n\nA bank may lease, purchase, hold, and convey any of the following real property:\n\nAs necessary for the convenient transaction of its business, including space within its banking office buildings to rent as lessor to third parties.\n\nAs conveyed to it in satisfaction of debts previously contracted in the course of its business.\n\nAs it purchases at sales under judgments, decrees, or mortgages held by the bank or to secure debts due to it.\n\nAs it legally owned on the effective date of this act.\n\nAs conveyed to it under sections 4401 to 4405.\n\nAs it may acquire in connection with the purchase by it of a land contract, but the purchase of the land contract constitutes a loan secured by real property for purposes of section 4202.\n\nFor any other purpose as may be permitted by this act or by order or declaratory ruling of the commissioner.","path":["MI Code","Chapter 487","Act Act-276-of-1999"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-487-14306","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"7547ffcf3f7797b208ac79a1b4c853fdb1d88adc416d0b673d7545644bee85c0","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-487.14305","next":"us-mi/mich.-comp.-laws-487.14307"},"notice":"GroundRules: Original legal text. Not legal advice."}