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EXHIBIT 5.1
CONSENT OF LEGAL COUNSEL
December 20, 2000
University Bancorp, Inc.
959 Maiden Lane
Ann Arbor, MI 48105
Re: Registration Statement on Form S-2
Registration No. 333-47056
Ladies and Gentlemen:
We have acted as counsel for University Bancorp, Inc. a Delaware corporation
(the "Company"), in connection with the preparation and filing with the
Securities and Exchange Commission under the Securities Act of 1933, as amended,
of a Registration Statement on Form S-2 (the "Registration Statement") relating
to the offering by the Company of up to 1,525,000 shares of its Common Stock,
$.01 par value per share (the "Common Stock").
In so acting, we have examined and relied upon the originals, or copies
certified or otherwise identified to our satisfaction, of such corporate
records, documents, certificates and other instruments as in our judgment are
necessary or appropriate to enable us to render the opinion expressed below.
Based upon the foregoing, we are of the opinion that:
1. The Company has been duly incorporated and is validly existing
as a corporation in good standing under the laws of the State
of Delaware.
2. The Shares of the Common Stock of the Company to which the
Registration Statement relates have been duly authorized for
issuance and, when issued in the manner specified in the
Registration Statement, will be legally and validly issued,
fully paid and non-assessable.
We hereby consent to the use of this opinion as an Exhibit to the Registration
Statement.
Sincerely,
Lewis & Munday PC.
200
