Mich. Comp. Laws § 454.8

Sec. 8. Any such association whenever required by the attorney general or the legislature shall report to him or them under the oath of at least 2 of its trustees a full and true statement of its condition and affairs; and for any willful neglect to make such report within a reasonable time after the same is so required the association shall be liable to pay to the people of this state a fine of 50 dollars; or if the attorney general shall so elect or be instructed by the governor, he may proceed against such association by information, to forfeit its charter for such neglect.