Chapter 489

SAVINGS AND LOAN ASSOCIATIONS

BUILDING AND LOAN ASSOCIATIONS

Act 50 of 1887

489.1-489.40 Repealed. 1964, Act 156, Eff. Jan. 1, 1965.





FOREIGN BUILDING AND LOAN ASSOCIATIONS

Act 14 of 1901

489.201-489.211 Repealed. 1964, Act 156, Eff. Jan. 1, 1965.





FEDERAL SAVINGS AND LOAN ASSOCIATIONS

Act 77 of 1939

489.351,489.352 Repealed. 1964, Act 156, Eff. Jan. 1, 1965.





FEDERAL SAVINGS AND LOAN ASSOCIATIONS

Act 78 of 1939

489.361 Repealed. 1964, Act 156, Eff. Jan. 1, 1965.





FEDERAL SAVINGS AND LOAN ASSOCIATIONS

Act 180 of 1954

489.371,489.372 Repealed. 1964, Act 156, Eff. Jan. 1, 1965.





SAVINGS AND LOAN ASSOCIATIONS; BUILDING AND LOAN ASSOCIATIONS

Act 102 of 1959

489.401,489.402 Repealed. 1964, Act 156, Eff. Jan. 1, 1965.





SAVINGS AND LOAN ASSOCIATION ACT OF 1964

Act 156 of 1964

AN ACT to revise, consolidate and classify the laws relating to savings and loan associations and savings associations; to provide for the organization, chartering, regulation and supervision of such associations; to prescribe the rights, powers and immunities of such associations; to prescribe the fees, taxes and charges to be paid by such associations and the disposition of revenues therefrom; to require certain reports and examinations of such associations; to prescribe penalties for violations of this act and to repeal certain acts and parts of acts.


History: 1964, Act 156, Eff. Jan. 1, 1965




The People of the State of Michigan enact:


489.501-489.857 Repealed. 1967, Act 96, Imd. Eff. June 21, 1967;—1970, Act 185, Imd. Eff. Aug. 3, 1970;—1975, Act 231, Eff. Mar. 2, 1976;—1980, Act 307, Eff. Jan. 1, 1981.





489.858 Tax exemptions.

Sec. 458.

    (1) All mortgages or other securities held by associations, are exempt from all municipal or other taxes under the laws of this state and all personal property owned by associations is exempt from taxation.
    (2) Federal savings and loan associations and their members shall be subject to the same taxation and upon the same basis as state associations and their members.


History: 1964, Act 156, Eff. Jan. 1, 1965





489.861-489.920 Repealed. 1975, Act 231, Eff. Mar. 2, 1976;—1980, Act 307, Eff. Jan. 1, 1981.



Rendered 8/15/2025 4:18 PM
Michigan Compiled Laws Complete Through PA 5 of 2025
Courtesy of legislature.mi.gov