Publications for Financial Institution Law

By most measures the economy is strong. Unemployment is low. The stock market is roaring. Gross domestic product is rising. Under these circumstances, bankruptcy is on few people’s minds.

On February 6, 2018, Governor Snyder signed Public Act 16 of 2018, which creates a Uniform Commercial Real Estate Receivership Act (the “Act”) in Michigan. The bill was sponsored by State Representative Brandt Iden, of the 61st District. PA 16 can be viewed here.

The State of Michigan will invest up to $150 million in six (6) month and twelve (12) month certificates of deposit (CD) from Michigan financial institutions at below market rates.

With a Presidential election occurring this year, many Townships are in the process of determining whether to ask voters to approve extra-voted millages or bond proposals.