Michigan Compiled Laws Act 738 Of 2002 Electronic Transactions Of Public Funds (124.301 - 124.305)
AN ACT to authorize and regulate electronic transactions of public funds involving local units of government; and to provide for powers and duties of certain governmental agencies and officials.
History: 2002, Act 738, Imd. Eff. Dec. 30, 2002
Section 124.301 Definitions.
As used in this act: (a) “ACH arrangement” means the agreement between the originator of the ACH transaction and the receiver of the ACH...
Section 124.302 Ach Arrangement; Scope.
(1) The treasurer or the ETO of a local unit may enter into an ACH arrangement as provided by this act. (2) An ACH...
Section 124.303 Ach Policy; Contents.
A local unit shall not be a party to an ACH arrangement unless the governing body of the local unit has adopted a resolution...