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Code · Michigan · Chapter 129 — Public Funds

129.93 Existing investments ratified and validated.

120 words·~1 min read·/mi/chapter-129/129-93

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129.93 Existing investments ratified and validated.
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Investments made before the effective date of the amendatory act that repealed section 2 of the surplus funds, sinking funds, or insurance funds of a political subdivision of this state in bonds and other obligations of the United States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 certificates of deposit or depository receipts of a bank that is a member of the federal deposit insurance corporation as provided under section 1 and former section 2 of this act are hereby ratified and validated.
History: 1943, Act 20, Imd. Eff. Mar. 13, 1943 ;-- CL 1948, 129.93 ;-- Am. 1964, Act 126, Eff. Aug. 28, 1964 ;-- Am. 1997, Act 196 , Imd. Eff. Dec. 30, 1997
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