There is a newer version of the Michigan Compiled Laws
2006 Michigan Compiled Laws - Act 367 of 1982
| AN ACT relative to the investment of surplus funds of local units of government of this state in investment pools; to permit the establishment of investment pools by financial institutions; to permit local units of government to invest in investment pools; and to prescribe certain powers and duties of certain local units of government and their officers.
|
| Document | Description |
| Section 129.111 | Short title. |
| Section 129.112 | Definitions. |
| Section 129.113 | Placing surplus funds in investment pool; contract with financial institution. |
| Section 129.114 | Contract between financial institution and local unit; required provisions. |
| Section 129.115 | Maintaining separate account for each participant; monthly statement of transactions; report. |
| Section 129.116 | Powers and duties of depository. |
| Section 129.117 | Default in payment of principal, interest, or other income; remedies of depository. |
| Section 129.118 | Act as additional authority for investment of surplus funds. |
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