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.
|Section 129.111||Short title.|
|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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