Mich. Comp. Laws § 493.79
Construction of act; applicability.
Michigan · Michigan Compiled Laws — THE SECONDARY MORTGAGE LOAN ACT (Act 125 of 1981) · Status: effective
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- Citation
- Mich. Comp. Laws § 493.79, Construction of act; applicability, Michigan, version 1 as recorded 2026-08-18, yourstate.us, https://yourstate.us/provision/1367045
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Full text
This act does not apply to a depository financial institution that is subject to other laws of this state, another state, or of the United States regulating the power of the depository financial institution to engage in secondary mortgage loan transactions or upon the conditions and limitations imposed by law upon the exercise of this power. This act does not apply to an affiliate or subsidiary of a depository financial institution or a depository financial institution holding company if the depository institution maintains an office or branch office in this state.