Michigan Compiled Laws

Mich. Comp. Laws § 487.3101 (2026)

Short title.

✓ current as of July 2026

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SAVINGS BANK ACT

Act 354 of 1996

487.3101 Short title.

Sec. 101.

This act shall be known and may be cited as the "savings bank act".

History: 1996, Act 354, Imd. Eff. July 1, 1996

Compiler's Notes:

For transfer of authority, powers, duties, functions, and responsibility of the financial institutions bureau and the commissioner of the financial institutions bureau to the commissioner of the office of financial and insurance services and the office of financial and insurance services by type III transfer, see E.R.O. No. 2000-2, compiled at MCL 445.2003 of the Michigan compiled laws.

Notes of Decisions

Cited in 5 cases, 2001–2007 · leading case: Dressel v. Ameribank, 664 N.W.2d 151 (Mich. 2003).

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Dressel v. Ameribank, 664 N.W.2d 151 (Mich. 2003). · cites it 2× “§ 487.3101 et seq. Because the trial court had erred in dismissing plaintiffs' claims of unauthorized practice of law, the Court reasoned, it erred also in dismissing the SBA and MCPA claims.”

Liss v. Lewiston-Richards, Inc, 732 N.W.2d 514 (Mich. 2007). · cites it 2× “[26] MCL 487.3101 et seq. [27] 239 Mich.App. 711 , 714-715, 609 N.”

Newton v. Bank West, 686 N.W.2d 491 (Mich. Ct. App. 2004). “It is undisputed that, before September 30, 1997, defendant was a federal savings bank and that, after September 30, 1997, defendant operated under the Michigan Savings Bank Act, MCL 487.3101 et seq. A federal savings bank is specifically authorized to make residential mortgage…”

Newton v. West, 686 N.W.2d 491 (Mich. Ct. App. 2004). “Specifically, 12 USC 1464(c)(1)(B) provides that federal savings banks are authorized to "invest in, sell, or otherwise deal in .”

Dressel v. Ameribank, 635 N.W.2d 328 (Mich. Ct. App. 2001). “Defendant’s claim that it is authorized under the Savings Bank Act, MCL 487.3101 et seq., to charge a fee for the preparation of legal documents is also unfounded.”

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