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Insolvency; transfer of assets null and void.

MCL 487.3510
in effect
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487.3510. Insolvency; transfer of assets null and void. Sec. 510. A transfer of any assets of a savings bank to its shareholders or members, or to its creditors made after the commission of an act of insolvency or made in contemplation of insolvency, with a view to preventing the application of its assets in the manner prescribed by this act, or with a view to the preference of 1 creditor over another, is null and void. 1996, Act 354, Imd. Eff. July 1, 1996
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-487-3510Fetched: 10/20/2026

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