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Michigan Compiled Laws Complete Through PA 38 of 2023
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Act 20 of 1943
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Act 20 of 1943

AN ACT relative to the investment of funds of public corporations of the state; and to validate certain investments.

History: 1943, Act 20, Imd. Eff. Mar. 13, 1943 ;-- Am. 1988, Act 285, Imd. Eff. Aug. 1, 1988 ;-- Am. 1997, Act 196, Imd. Eff. Dec. 30, 1997

The People of the State of Michigan enact:

Section 129.91SectionInvestment 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.
Section 129.92SectionRepealed. 1997, Act 196, Imd. Eff. Dec. 30, 1997.
Section 129.93SectionExisting investments ratified and validated.
Section 129.94SectionFunds accumulated under eligible deferred compensation plan; deposit; investment; existing investments ratified and validated.
Section 129.95SectionInvestment policy; adoption by governing body.
Section 129.96SectionExecution of order to purchase or trade funds of public corporation; providing copy of investment policy; public corporation subject to subsection (1); report.
Section 129.97SectionLong-term or perpetual trust fund; investment of assets; resolution authorizing investment officer same authority as investment fiduciary under MCL 38.1132 to 38.1140m; conditions.
Section 129.97aSectionInvestment of assets of special revenue fund by investment officer; resolution granting authority; annual special revenue fund report.
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