2006 Michigan Compiled Laws - Act 99 of 1909


DEPOSITORIES FOR PUBLIC MONEYS

Act 99 of 1909

AN ACT authorizing the county board of commissioners or the board of auditors in those counties having a board of county auditors, to designate a depository or depositories of public moneys received by county treasurers; prescribing the duties of certain officers; and prescribing penalties.


History: 1909, Act 99, Eff. Sept. 1, 1909 ;--Am. 1911, Act 212, Eff. Aug. 1, 1911 ;--Am. 1979, Act 86, Imd. Eff. Aug. 1, 1979




The People of the State of Michigan enact:

DocumentDescription
Section 129.31Deposit of money, drafts, or checks in designated financial institution; keeping sum on hand in treasurer's office; interest; secured deposits; limitation on acceptable assets.
Section 129.32Notices soliciting sealed bids for deposit of public funds; designation of financial institution; period; rejection of bids; contract with financial institution; bond; surety; drawing on funds; requesting or advertising for bids outside of county; resolution.
Section 129.33Bond.
Section 129.34Disposition of interest money.
Section 129.35Additional bonds.
Section 129.36Withdrawal of deposits; suspending payment of deposits; liability.
Section 129.36aDeposit of additional county funds; limitation.
Section 129.37Board of county auditors; powers and duties.
Section 129.37a"Deposit" defined.
Section 129.38County treasurer; accounts with banks.
Section 129.38a"Interest" defined.
Section 129.39Violation of act; penalty.
Section 129.40"Financial institution" defined.

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