SAVINGS BANKS: REAL ESTATE H.B. 6022: FLOOR ANALYSIS
House Bill 6022 (as reported without amendment) Sponsor: Representative Gary L. Randall
House Committee: Commerce
Senate Committee: Financial Services
The bill would amend the Savings Bank Act to delete a prohibition against a savings bank’s engaging in the real estate brokerage business before April 1, 1997. The Act allows a savings bank to engage directly in the real estate brokerage business, but prohibits that activity before April 1, 1997.
MCL 487.3401 Legislative Analyst: P. Affholter
The bill would have no fiscal impact on State or local government.
Date Completed: 9-26-96 Fiscal Analyst: M. Tyszkiewicz
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This analysis was prepared by nonpartisan Senate staff for use by the Senate in its deliberations and does not constitute an official statement of legislative intent.