April 29, 2003, Introduced by Reps. Lipsey, Palsrok, Wenke, Richardville, O'Neil and Bisbee and referred to the Committee on Commerce.
A bill to amend 1980 PA 307, entitled
"Savings and loan act of 1980,"
by amending section 1135 (MCL 491.1135), as added by 2002
PA 185.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 1135. (1) If an
association is required to file a
2 transaction report
under sections 5313 to 5318 of title 31 of the
3 United States Code, 31
U.S.C. 5313 to 5318 files a
suspicious
4 activity report with an agency of the federal government, the
5 association shall also within 24 hours file a copy of the
6 transaction suspicious activity report with the department
of
7 state police.
8 (2) An association may file the suspicious activity report
9 with the department of state police under subsection (1) in any
10 manner allowed by federal law or regulation or in any other
1 manner acceptable to the department of state police.
2 (3) (2) Except
for a violation of sections 5313 to 5318
3 section 5318(g) of title 31 of the United States Code, 31
4 U.S.C. 5313 to 5318,
an association or a director, officer,
5 employee, or agent of the association is not liable in any civil
6 or governmental action
for the filing of a copy of the
7 transaction a suspicious activity report as required
under
8 subsection (1) or for
the failure under this section or
failing
9 to notify the an
account holder or any other person of the
10 filing.