{"data":{"id":"us-mi/mich.-comp.-laws-487.3424","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 487.3424","heading":"Fiduciary powers; considerations.","body":"Sec. 424.\n\nIn passing upon applications for permission to exercise full fiduciary powers under section 421, the commissioner shall take into consideration the following, and he or she may grant or refuse the application accordingly:\n\nThe sufficiency of the capital and surplus of the applying savings bank.\n\nAny other facts or circumstances that he or she deems proper.\n\nWithout regard to the capital and surplus requirements under subsection (1), the commissioner may grant to a savings bank the limited trust power to act as executor, administrator, custodian, conservator, guardian, or to serve as a testamentary trustee.","path":["MI Code","Chapter 487","Act Act-354-of-1996"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-487-3424","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"653baebac51fb29389065bcae8fb46efc71c586558c06295e071dababe54d3ce","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-487.3423","next":"us-mi/mich.-comp.-laws-487.3426"},"notice":"GroundRules: Original legal text. Not legal advice."}