™Your Policy Risk Impact Agent
31 chapters · 495 sections in this title.
Mich. Comp. Laws § 487.2081 Short title.
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Sec. 1. This act shall be known and may be cited as the "financial exploitation prevention act".
Mich. Comp. Laws § 487.2083 Definitions.
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Sec. 3. As used in this act: (a) "Adult protective services" means the office, division, or unit under the department of health and human services that is charged with investigation of abuse, neglect, or exploitation of vulnerable persons under the social welfare act, 1939 PA 280…
Mich. Comp. Laws § 487.2085 Training for signs of covered financial exploitation of members or customers; requirements; reporting; notification; disclosure and identification of reporting individual.
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Sec. 5. (1) A financial institution shall develop and implement a policy for training relevant employees to recognize signs of covered financial exploitation of members or customers of the financial institution, and for reporting that activity to a law enforcement agency or adult…
Mich. Comp. Laws § 487.2087 Investigations; delay or freeze on transactions; exception.
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Sec. 7. (1) Except as otherwise provided in this subsection, and subject to subsection (3), if a financial institution suspects or detects covered financial exploitation of a member or customer, the financial institution may delay the related transaction for further investigation…