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22 chapters · 116 sections in this title.
Mich. Comp. Laws § 129.41 Public funds of incorporated village; deposit; secured deposits; limitation on acceptable assets; warrants and orders; profits; liability for loss; ordinance or resolution; conduct and inspection of proceedings; accrual of profits to village general fund.
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Sec. 1. (1) The legislative body of an incorporated village of this state may provide for the depositing and safeguarding of public funds in the manner prescribed in section 3 and this section. The treasurer of an incorporated village within the state, upon giving bond as require…
Mich. Comp. Laws § 129.42 Security for deposit prohibited.
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Sec. 2. Security in the form of collateral, surety bonds, or another form shall not be taken for the deposit of the public funds.
Mich. Comp. Laws § 129.43 Limitation on deposit of additional public funds.
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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.
Mich. Comp. Laws § 129.44 “Deposit” defined.
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Sec. 4. As used in this act, "deposit" includes the purchase of, or investment in, shares of a credit union.