Mich. Comp. Laws § 487.12409
Current through Public Act 57 of the 2024 Legislative Session
With the prior approval of the commissioner, the conservator of a bank may borrow money as necessary or expedient in aiding the operation, reorganization, or liquidation of the bank, including the payment of liquidating dividends, and may secure the loans by the pledge, hypothecation, or mortgage of the assets of the bank.
MCL 487.12409