Sec. 3. Notwithstanding section 1(1), additional public funds of an incorporated village shall not be deposited in a financial institution which is not eligible to be a depository of surplus funds belonging to this state under section 6 of 1855 PA 105, MCL 21.146.
Limitation on deposit of additional public funds.
Mich. Comp. Laws § 129.43, under DEPOSIT AND SAFEGUARDING OF PUBLIC MONEYS OF VILLAGE.
Mich. Comp. Laws § 129.43