H.B. 6022: COMMITTEE SUMMARY SAVINGS BANKS: REAL ESTATE
House Bill 6022 (as passed by the House) Sponsor: Representative Gary L. Randall House Committee: Commerce
Senate Committee: Financial Services
Date Completed: 9-24-96
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.
Fiscal Analyst: M. Tyszkiewicz
S9596\S6022SA
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.
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