Michigan Compiled Laws Act 40 Of 1932 (1st Ex. Sess.) Depositories For Public Moneys (129.11 - 129.16)

AN ACT to provide for the designation of depositories for public moneys; to prescribe the effect thereof on the liability for such deposits; to suspend the requirement of surety bonds from depositories of public moneys; and to repeal all acts and parts of acts inconsistent with the provisions of this act.

History: 1932, 1st Ex. Sess., Act 40, Imd. Eff. May 14, 1932

Section 129.11 Public Moneys; Definition.
All moneys which shall come into the hands of any officer of any county, or of any township, school district, city or village, or...
Section 129.12 Resolution Providing For Designation And Deposit Of Public Money; Limitation On Acceptable Assets; Conduct Of Proceedings; Designation Of Depositories; Deposit Of Funds; Liability.
(1) The county board of commissioners, or board of county auditors in a county in which there is a board of county auditors, the...
Section 129.13 Repealed. 1997, Act 31, Imd. Eff. June 19, 1997.
Compiler's Notes: The repealed section pertained to prohibited security.
Section 129.14 Deposit Or Investment Of Additional Funds; Limitation.
Notwithstanding section 2, additional funds coming into the possession of a county treasurer, township treasurer, school district treasurer, city treasurer or tax collector, or...
Section 129.15 “deposit” Defined.
As used in this act, “deposit” includes purchase of, or investment in, shares of a credit union. History: Add. 1979, Act 84, Imd. Eff....
Section 129.16 “financial Institution” Defined; Financial Institution Not Maintaining Principal Or Branch Office In State; Designation And Deposit Of Public Money.
(1) As used in this act, “financial institution” means a state or nationally chartered bank or a state or federally chartered savings and loan...

Last modified: October 10, 2016