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22 chapters · 116 sections in this title.
Mich. Comp. Laws § 129.91 Investment of funds of public corporation; eligible depository; secured deposits; funds limitation on acceptable assets; pooling or coordinating funds; written agreements; investment in certificate of deposit; conditions; “financial institution” defined; additional definitions.
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Sec. 1. (1) Except as provided in section 5, the governing body by resolution may authorize its investment officer to invest the funds of that public corporation in 1 or more of the following: (a) Bonds, securities, and other obligations of the United States or an agency or instr…
Mich. Comp. Laws § 129.93 Existing investments ratified and validated.
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Sec. 3. Investments made before the effective date of the amendatory act that repealed section 2 of the surplus funds, sinking funds, or insurance funds of a political subdivision of this state in bonds and other obligations of the United States or its instrumentalities or certif…
Mich. Comp. Laws § 129.94 Funds accumulated under eligible deferred compensation plan; deposit; investment; existing investments ratified and validated.
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Sec. 4. (1) As used in this section: (a) "Eligible deferred compensation plan" means a deferred compensation plan established and maintained by a governing body, which plan meets the requirements of section 457 of the internal revenue code. (b) "Financial institution" means a sta…
Mich. Comp. Laws § 129.95 Investment policy; adoption by governing body.
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Sec. 5. (1) Not more than 180 days after the end of a public corporation's first fiscal year that ends after the effective date of the amendatory act that repealed section 2, a governing body, in consultation with the investment officer, shall adopt an investment policy that, at …