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Code · Michigan · Chapter 324 — Natural Resources and Environmental Protection

324.50519 Bonds or notes as legal investments; security.

131 words·~1 min read·/mi/chapter-324/324-50519

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324.50519 Bonds or notes as legal investments; security.
Sec. 50519.
Notwithstanding any restriction contained in any other law, the state and a public officer, local unit of government, or agency of the state or a local unit of government; a bank, trust company, savings bank and institution, savings and loan association, investment company, or other person carrying on a banking business; an insurance company, insurance association, or other person carrying on an insurance business; or an executor, administrator, guardian, trustee, or other fiduciary may legally invest funds belonging to them or within their control in bonds or notes issued under this part, and authority bonds or notes shall be authorized security for public deposits.
History: Add. 1995, Act 57, Imd. Eff. May 24, 1995
Popular Name: Act 451
Popular Name: NREPA
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