Preserving, Investing, and Expending Assets of Trust - Mich. Comp. Laws Section 390.1437
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390.1437 Preserving, investing, and expending assets of trust.
Sec. 17.
The assets of the trust shall be preserved, invested, and expended solely pursuant to and for the purposes set forth in this act and shall not be loaned or otherwise transferred or used by the state for any purpose other than the purposes of this act. This section shall not be construed to prohibit the trust from investing in, by purchase or otherwise, bonds, notes, or other obligations of the state, an agency of the state, or an instrumentality of the state.
History: 1986, Act 316, Imd. Eff. Dec. 23, 1986
Section: 390.1430 390.1431 390.1432 390.1433 390.1434 390.1435 390.1436 390.1437 390.1438 390.1439 390.1440 390.1441 390.1442 390.1451 390.1452
Last modified: March 17, 2013
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