MI SB0749

Amends the 1999 Banking Code (PA 276) to revise definitions in section 1201 related to banks and financial institutions.

Adds definition of "administrative expense" to include court costs, liquidation expenses, employee wages retained by receivers, supervision/conservatorship costs, and unpaid departmental fees or assessments.

Expands definition of "affiliate" to clarify ownership and control thresholds, including direct/indirect ownership of more than 25% of voting shares, controlling influence over management or policies, and overlapping board compositions.

Takes effect 90 days after enactment (September 12, 2016) contingent upon passage of Senate Bills 748 and 750 in the 2016 legislative session.