# Mich. Comp. Laws § 490.203: Office of financial and insurance services; hearing or proceeding; document retention; order or ruling

> Michigan · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.203

## Section

- **Citation:** Mich. Comp. Laws § 490.203
- **Heading:** Office of financial and insurance services; hearing or proceeding; document retention; order or ruling
- **Jurisdiction:** Michigan
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** MI Code / Chapter 490 / Act Act-215-of-2003 / Section 490.203

## Text

Sec. 203.

(1) Any hearing or other proceeding pending before the office of financial and insurance services under former 1925 PA 285 before the effective date of this act is transferred to the office of financial and insurance services under this act, and the office of financial and insurance services shall conduct and determine the proceeding as follows:

(a) If the commissioner determines that this act establishes an identical or substantially similar proceeding for the conduct or act that was the basis of the proceeding under former 1925 PA 285, the office of financial and insurance services shall conduct and determine the proceeding under this act.

(b) If the commissioner determines that this act does not establish an identical or substantially similar proceeding for the conduct or act that was the basis of the proceeding under former 1925 PA 285, the office of financial and insurance services shall conduct and determine the proceeding in the manner described in former 1925 PA 285.

(2) The office of financial and insurance services shall retain all of its property, credits, books, correspondence, funds, appropriations, records, files, and other papers acquired or retained under former 1925 PA 285.

(3) An order or declaratory ruling issued by the commissioner under former 1925 PA 285 that is in effect on the effective date of this act shall continue in effect until modified, suspended, revoked, or repealed by the commissioner.

History: 2003, Act 215, Eff. June 1, 2004; Am. 2004, Act 471, Imd. Eff. Dec. 28, 2004

## Nearby sections

- [Mich. Comp. Laws § 490.101 Short title.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.101.md)
- [Mich. Comp. Laws § 490.102 Definitions; A to I.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.102.md)
- [Mich. Comp. Laws § 490.103 Definitions; M to S.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.103.md)
- [Mich. Comp. Laws § 490.104 "Credit union"; use in name or title; restrictions; "corporate" or "corporate central"; use in name.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.104.md)
- [Mich. Comp. Laws § 490.105 Domestic credit union; exemption from tax; exception; stock transfer tax.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.105.md)
- [Mich. Comp. Laws § 490.201 Administration and supervision by director; annual operating fee; limitation; report filed by domestic credit union; delinquent fee; waiver; amendment to bylaws or certificate of organization; examination of accounts, books, and records; "records" defined.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.201.md)
- [Mich. Comp. Laws § 490.202 Fee, fine, or other money received or collected by director; disposition; establishment of credit union regulatory fund.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.202.md)
- [Mich. Comp. Laws § 490.203 Office of financial and insurance services; hearing or proceeding; document retention; order or ruling.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.203.md)
- [Mich. Comp. Laws § 490.204 Immunity.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.204.md)
- [Mich. Comp. Laws § 490.205 Disclosure of information.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.205.md)
- [Mich. Comp. Laws § 490.206 Rules; orders; declaratory rulings.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.206.md)
- [Mich. Comp. Laws § 490.207 Examination by director; conduct; report; document, material, or information; confidentiality; disclosure; demand for production; request for discovery or disclosure; judicial review; appeal; best practices or other improvements; guidance to promote consistency and due process.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.207.md)
- [Mich. Comp. Laws § 490.208 Application for additional powers by domestic credit unions.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.208.md)
- [Mich. Comp. Laws § 490.209 Issuance of subpoena by circuit court.](https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.209.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_MI_C490_AAct-215-of-2003_S490.203. Check the current official text before relying on it. Not legal advice.