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2022 Michigan Compiled Laws
Chapter 129 - Public Funds
Act 321 of 1909 - Deposit and Safeguarding of Public Moneys of Village (129.41 - 129.45)
Section 129.42 - Security for Deposit Prohibited.
Universal Citation: MI Comp L § 129.42 (2022)
129.42 Security for deposit prohibited.
Sec. 2.
Security in the form of collateral, surety bonds, or another form shall not be taken for the deposit of the public funds.
History: Add. 1979, Act 77, Imd. Eff. Aug. 1, 1979
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