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§ 487.1501 — Michigan Law | CourtGPT
  1. Home/
  2. Laws/
  3. Michigan/
  4. Chapter 487 - Financial Institutionsact 349 of 1925 - Adverse Claim to Bank Deposit (487.691 - 487.691)/
  5. Statute Act 89 of 1986/
  6. Article 5 - Transaction of Business (487.1501...487.1513)/
  7. § 487.1501
Michigan Legal Code

§ 487.1501

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487.1501 Offices of licensee; number; location; posting sign bearing corporate name; personnel; establishing, relocating, or closing office. Sec. 501. (1) A licensee shall maintain not less than 1 office in this state. (2) A licensee shall not maintain an office at any place outside this state. (3) Each office of a licensee shall be located in a place which is reasonably accessible to the public. (4) A licensee shall post in a conspicuous place at each of its offices a sign which bears the corporate name of the licensee. (5) A licensee shall maintain at each of its offices personnel who are competent to conduct the business of such an office. (6) Upon written notice to the commissioner, a licensee may establish, relocate, or close an office. History: 1986, Act 89, Imd. Eff. May 1, 1986