490.104 'Credit union'; use in name or title; restrictions; 'corporate' or 'corporate central'; use in name.Sec. 104. (1) A person shall not use the words 'credit union' in its name or any assumed names, unless it is 1 of the following: (a) A domestic credit union or a foreign credit union. (b) A credit union trade association. (c) A credit union service organization. (d) An organization that is wholly owned by 1 or more domestic credit unions, foreign credit unions, credit union trade associations, or credit union service organizations. (e) A separate segregated fund established under section 55 of the Michigan campaign finance act, 1976 PA 388, MCL 169.255, or a political action committee under federal law. (2) A credit union may not use the word 'corporate' or the words 'corporate central' immediately before the words 'credit union' in its name unless it is a corporate credit union organized under this act, the laws of another state or territory of the United States, or the laws of the United States. History: 2003, Act 215, Eff. June 1, 2004 ;-- Am. 2004, Act 471, Imd. Eff. Dec. 28, 2004
Michigan Legal Code