Security For Deposit Prohibited - Mich. Comp. Laws Section 129.42

Legal Research Home > Michigan Lawyer > Public Funds > Security For Deposit Prohibited - Mich. Comp. Laws Section 129.42

DEPOSIT AND SAFEGUARDING OF PUBLIC MONEYS OF VILLAGE (EXCERPT)
Act 321 of 1909

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

Last modified: January 1, 2008