Federal and State Laws
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.
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...
Section 124.304 Noncompliance; Order Limiting Or Suspending Local Unit's Authority.
After notice and hearing as provided under the administrative procedures act of 1969, 1969 PA 306, MCL 24.201 to 24.328, the department of treasury...
Section 124.305 Ach Arrangement; Validity; Compliance.
(1) This act does not affect the validity of an ACH arrangement entered into by a local unit before the effective date of this...
Last modified: October 10, 2016