Michigan Compiled Laws
Chapter 129 - Public Funds
Act 367 of 1982 - Surplus Funds Investment Pool Act (129.111 - 129.118)

Section 129.111 - Short Title. - Sec. 1. This act shall be known and may be...

Section 129.112 - Definitions. - Sec. 2. (1) As used in this act: (a) “Depository”...

Section 129.113 - Placing Surplus Funds in Investment Pool; Contract With Financial Institution. - Sec. 3. The governing body of a local unit may...

Section 129.114 - Contract Between Financial Institution and Local Unit; Required Provisions. - Sec. 4. Before surplus funds are placed in an investment...

Section 129.115 - Maintaining Separate Account for Each Participant; Monthly Statement of Transactions; Report. - Sec. 5. The depository shall maintain for each participant a...

Section 129.116 - Powers and Duties of Depository. - Sec. 6. (1) The depository shall manage, invest, and reinvest...

Section 129.117 - Default in Payment of Principal, Interest, or Other Income; Remedies of Depository. - Sec. 7. If a default occurs in the payment of...

Section 129.118 - Act as Additional Authority for Investment of Surplus Funds. - Sec. 8. This act shall be considered to provide authority...