Obligation Upon State, Agency, or Instrumentality of State - Mich. Comp. Laws Section 390.1484
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390.1484 Obligation upon state, agency, or instrumentality of state.
Sec. 14.
(1) This act does not create and shall not be construed to create any obligation upon this state or any agency or instrumentality of this state to guarantee for the benefit of an account owner or designated beneficiary any of the following:
(a) The rate of interest or other return on an account.
(b) The payment of interest or other return on an account.
(2) The contracts, applications, deposit slips, and other similar documents used in connection with a contribution to an account shall clearly indicate that the account is not insured by this state and that the money deposited into and investment return earned on an account are not guaranteed by this state.
History: 2000, Act 161, Imd. Eff. June 16, 2000
Section: 390.1477 390.1478 390.1479 390.1480 390.1481 390.1482 390.1483 390.1484 390.1485 390.1486 390.1501 390.1502 390.1503 390.1504 390.1511
Last modified: March 17, 2013
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