For AI agents: read the machine-readable documentation index at /llms.txt or the single-file full reference at /llms-full.txt.
Form a Business

Federal insurance of deposits required.

MCL 487.3203
in effect
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487.3203. Federal insurance of deposits required. Sec. 203. Unless the commissioner, for good cause shown, waives the requirement, a savings bank shall secure insurance of its deposit accounts backed by the full faith and credit of the United States government prior to commencing business. 1996, Act 354, Imd. Eff. July 1, 1996
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-487-3203Fetched: 10/20/2026

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