{"data":{"id":"us-mi/mich.-comp.-laws-487.3203","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 487.3203","heading":"Federal insurance of deposits required.","body":"Sec. 203.\n\nUnless the commissioner, for good cause shown, waives the requirement, a savings bank shall secure insurance of its deposit accounts backed by the full faith and credit of the United States government prior to commencing business.","path":["MI Code","Chapter 487","Act Act-354-of-1996"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-487-3203","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"bb46acfb95755cf713d8063ffd0c9fc2a838a43da61d86e19ca4e7b5d52dd29b","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-487.3202","next":"us-mi/mich.-comp.-laws-487.3204"},"notice":"GroundRules: Original legal text. Not legal advice."}