Michigan Compiled Laws § 38.2737 Assets; Diversion For Other Purposes Prohibited.

38.2737 Assets; diversion for other purposes prohibited.

Sec. 7.

The assets of the irrevocable trust shall be used exclusively for the benefit of past members and their funding account dependents and shall not be diverted for a purpose other than the payment of retirement health care benefits and the administrative costs of providing such benefits.

History: 2010, Act 77, Imd. Eff. May 19, 2010

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Last modified: October 10, 2016