{"data":{"id":"us-mi/mich.-comp.-laws-487.3512","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 487.3512","heading":"Overdrafts.","body":"Sec. 512.\n\n(1) An overdraft existing for 90 days shall be charged off to the profit and loss account of the savings bank at the expiration of that time.\n\n(2) A director or executive officer of a savings bank shall not knowingly overdraw his or her account.\n\n(3) Unless a debt constitutes a claim against a solvent estate in probate, if the interest on a debt held by a savings bank is past due and unpaid for a period of 12 months, the savings bank shall charge off to its allowance for loan and lease losses the portion of the debt that is not well secured.","path":["MI Code","Chapter 487","Act Act-354-of-1996"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-487-3512","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"f188e75d470cb535cc964f9dc9524d11d7d9939c8e0e7348fd36f2e5929bc261","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-487.3511","next":"us-mi/mich.-comp.-laws-487.3601"},"notice":"GroundRules: Original legal text. Not legal advice."}