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Savings Bank
Required State License(s): Formation of a new savings bank requires a state charter. Information on forming a Michigan state-chartered savings bank is available by calling the Corporate Review Section, Office of Financial and Insurance Regulation, Department of Licensing and Regulatory Affairs at 517-373-7236.
Michigan state-chartered savings banks are regulated pursuant to the Savings Bank Act of 1996, as amended, MCL 487.3101 et seq.
Revised: 7/18/12
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