Required State License(s):

Formation of a new saving and loan association requires either a state charter or a federal charter. Information about forming a state saving and loan association is available by contacting the Department of Labor & Economic Growth, Office of Financial and Insurance Services; (517) 373-6950. 

State-chartered savings and loans are regulated pursuant to the saving and loan act of 1980, as amended, MCL 491.102 et seq, MSA 23.602 et seq.

Revised:  5/2005