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Form a Business

Procurement of loan; receipt of gratuity or consideration prohibited.

MCL 487.13507
in effect
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487.13507. Procurement of loan; receipt of gratuity or consideration prohibited. Sec. 3507. An officer, director, or employee of a bank shall not receive, or consent, or agree to receive from a customer of the bank any consideration or gratuity in return for the procurement of a loan or other service from the bank. 1999, Act 276, Eff. Mar. 1, 2000
Source: Michigan Legislature (legislature.mi.gov)URL: https://legislature.mi.gov/Laws/MCL?objectName=mcl-487-13507Fetched: 10/20/2026

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