Michigan Compiled Laws § 38.1540 Prohibited Conduct.

38.1540 Prohibited conduct.

Sec. 40.

Members of the retirement board and employees of the retirement system are prohibited from:

(a) Having any beneficial interest, direct or indirect, in any investment of the retirement system.

(b) Being an endorser or obligor, or providing surety, for any money loaned to or borrowed from the retirement system.

(c) Borrowing any of the money or other assets of the retirement system.

(d) Receiving any pay or emolument from any individual or organization, other than compensation paid by the retirement system, with respect to investments of the retirement system.

History: 1984, Act 427, Imd. Eff. Jan. 2, 1985

Section: Previous  38.1503-38.1510a  38.1511  38.1512-38.1535  38.1536  38.1536a  38.1537-38.1538  38.1539  38.1540  38.1541-38.1544a  38.1545  38.1545a-38.1554  38.1555  38.1556  38.1557  38.1558  Next

Last modified: October 10, 2016