333.5863 Duties of department of treasury.
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333.5863 Duties of department of treasury.
Sec. 5863.
(1)The department of treasury shall do all of the following:
(a)Receive money granted to this state by the federal government under this part.
(b)Receive payments as provided in section 5841 and keep that money in the parent participation fund.
(c)Disburse money from the funds on certification by the department.
(2)The state treasurer shall direct the investment of the children with special needs fund. The state treasurer has the same authority to invest assets of the children with special needs fund as is granted to an investment fiduciary that is investing assets under the public employee retirement system investment act, 1965 PA 314, MCL 38.1132 to 38.1141. The state treasurer shall comply with the divestment from terror act, 2008 PA 234, MCL 129.291 to 129.301, in making investments under this subsection.
History: 1978, Act 368, Eff. Sept. 30, 1978 ;-- Am. 2015, Act 91 , Imd. Eff. June 25, 2015 ;-- Am. 2016, Act 427 , Eff. Apr. 4, 2017
Popular Name: Act 368