2006 Michigan Compiled Laws - Act 40 of 1932 (1st Ex. Sess.)


Act 40 of 1932 (1st Ex. Sess.)

AN ACT to provide for the designation of depositories for public moneys; to prescribe the effect thereof on the liability for such deposits; to suspend the requirement of surety bonds from depositories of public moneys; and to repeal all acts and parts of acts inconsistent with the provisions of this act.

History: 1932, 1st Ex. Sess., Act 40, Imd. Eff. May 14, 1932

The People of the State of Michigan enact:

Section 129.11Public moneys; definition.
Section 129.12Resolution providing for designation and deposit of public money; limitation on acceptable assets; conduct of proceedings; designation of depositories; deposit of funds; liability.
Section 129.13Repealed. 1997, Act 31, Imd. Eff. June 19, 1997.
Section 129.14Deposit or investment of additional funds; limitation.
Section 129.15"Deposit" defined.
Section 129.16"Financial institution" defined; financial institution not maintaining principal or branch office in state; designation and deposit of public money.

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