Main Content Act 121 of 1985 friendly link Printer Friendly bills affecting index and updates Search within this Statute for LOCAL GOVERNMENT INVESTMENT POOL ACTAct 121 of 1985AN ACT to establish a local government investment pool; to prescribe the powers, duties, and liabilities of certain public officials in relation to an investment pool; to permit local units of government to invest surplus funds in an investment pool; and to prescribe the powers and duties of certain state agencies. History: 1985, Act 121, Imd. Eff. July 31, 1985 © 2009 Legislative Council, State of MichiganThe People of the State of Michigan enact: DocumentTypeDescription Section 129.141SectionShort title. Section 129.142SectionDefinitions. Section 129.143SectionContracts between participating county and local units; local government investment pool; management, investment, and reinvestment. Section 129.144SectionAuthorization by resolution. Section 129.145SectionWritten contract required; uniformity and contents of contract; filing and approval of proposed uniform contract; filing copies of and amendments to uniform contract. Section 129.146SectionStandard of judgment and care. Section 129.147SectionSeparate accounts. Section 129.148SectionSafekeeping depositories; security. Section 129.149SectionDefault; powers of treasurer. Section 129.150SectionOrders or warrants; limitation; liability for overdraft.
