There is a newer version of the Michigan Compiled Laws
2006 Michigan Compiled Laws - Act 314 of 1965
| AN ACT to authorize the investment of assets of public employee retirement systems or plans created and established by the state or any political subdivision; to provide for the payment of certain costs and investment expenses; to authorize investment in variable rate interest loans; to define and limit the investments which may be made by an investment fiduciary with the assets of a public employee retirement system; and to prescribe the powers and duties of investment fiduciaries and certain state departments and officers.
|
| Document | Description |
| Section 38.1121-38.1131 | Repealed. 1982, Act 55, Imd. Eff. Apr. 6, 1982. |
| Section 38.1132 | Short title; meanings of words and phrases. |
| Section 38.1132a | Definitions; A. |
| Section 38.1132b | Definitions; D to F. |
| Section 38.1132c | Definitions; I. |
| Section 38.1132d | Definitions; N to P. |
| Section 38.1132e | Definitions; S. |
| Section 38.1132f | Definitions; V. |
| Section 38.1133 | Investment authority; investment fiduciary; investing, reinvesting, holding in nominee form, and managing assets of system; powers and duties; costs; prohibited acts; exceptions; requirements; debt instrument issued by foreign country; list of expenses. |
| Section 38.1133a | "MacBride principles" defined; duties of investment fiduciary; effect of unlawful principle. |
| Section 38.1133b, 38.1133c | Repealed. 1993, Act 214, Imd. Eff. Oct. 27, 1993. |
| Section 38.1134 | Investment in stock. |
| Section 38.1135 | Investment in investment companies. |
| Section 38.1136 | Investment in annuity investment contracts or participations in separate accounts of life insurance company; investment in general account of life insurer; requirements. |
| Section 38.1137 | Other authorized investments; prohibited investments. |
| Section 38.1138 | Investment in real estate or mortgages on certain leased real property. |
| Section 38.1139 | Investment in real estate investment trust or real or personal property. |
| Section 38.1140 | Investment in secured loans; real property not considered encumbered; investment in part of obligation or participation interest in loan or group of loans; investment in real estate loan; investment in loan or loans or certificate of participation secured by loan or loans made on single family residential property; investment in certificates representing interest in mortgages or group of mortgages; limitations and restrictions; investment in second mortgage; investment with variable interest rate. |
| Section 38.1140a | Investment in debt, warrant, or equity interest in small business, small business investment company, or venture capital firm; creation of small business investment companies or venture capital firms to invest in small businesses; limitation. |
| Section 38.1140b | Deposits by investment fiduciary. |
| Section 38.1140c | Financial institution or management company retained as investment fiduciary; investment of system assets in collective investment fund, common trust fund, or pooled fund established and maintained by financial institution or management company; "financial institution" defined. |
| Section 38.1140d | Investments not qualified under act. |
| Section 38.1140e | Loan of securities by investment fiduciary. |
| Section 38.1140f | Transferring and holding securities. |
| Section 38.1140g | Investment in securities exempt from taxes. |
| Section 38.1140h | Applicable law; actuarial valuation; supplemental actuarial analysis; "proposed pension benefit change" defined. |
| Section 38.1140i | Repealed. 2000, Act 307, Imd. Eff. Oct. 16, 2000. |
| Section 38.1140j | Investment in derivatives. |
| Section 38.1140k | Investment in foreign securities. |
| Section 38.1140 | Financial or proprietary information. |
| Section 38.1140m | Employer contribution. |
Disclaimer: These codes may not be the most recent version. Michigan may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
