Mich. Comp. Laws § 487.2105
Fee; limitation; prohibition.
Michigan · Michigan Compiled Laws — STATE EMPLOYEE PAYROLL DEDUCTION PROGRAM (Act 190 of 1991) · Status: effective
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- Mich. Comp. Laws § 487.2105, Fee; limitation; prohibition, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1366478
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(1) Beginning January 1, 1994, the department may charge a participating financial institution a reasonable fee not greater than the actual costs of administering the direct deposit program or a fee of 25 cents, whichever is less, for each transaction and prenotification. The department shall not charge or impose any fee on a participating state employee, state college or university, or state retirement recipient.
(2) A financial institution that electronically pays to the state its sales, use, and withholding taxes shall not be charged a fee to participate in a program under this act.