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Code · Michigan · Chapter 129 — Public Funds

129.42 Security for deposit prohibited.

39 words·~1 min read·/mi/chapter-129/129-42

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129.42 Security for deposit prohibited.
Sec. 2.
Security in the form of collateral, surety bonds, or another form shall not be taken for the deposit of the public funds.
History: Add. 1979, Act 77, Imd. Eff. Aug. 1, 1979
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