Michigan Compiled Laws
Chapter 38 - Civil Service and Retirement
Act 314 of 1965 - Public Employee Retirement System Investment Act (38.1121 - 38.1141)

Section 38.1121-38.1131 - Repealed. 1982, Act 55, Imd. Eff. Apr. 6, 1982. - Compiler's Notes: Prior to the repeal of MCL 38.1121 to...

Section 38.1132 - Short Title; Meanings of Words and Phrases. - Sec. 12. (1) This act shall be known and may...

Section 38.1132a - Definitions; A. - Sec. 12a. "Assets", for the purpose of meeting asset limitations...

Section 38.1132b - Definitions; D to G. - Sec. 12b. (1) "Defined contribution plan" means a defined contribution...

Section 38.1132c - Definitions; I to L. - Sec. 12c. (1) "Investment fiduciary" means a person other than...

Section 38.1132d - Definitions; N to P. - Sec. 12d. (1) "National rating services" means Moody's investors service,...

Section 38.1132e - Definitions; S. - Sec. 12e. (1) "Small business" means a corporation, partnership, sole...

Section 38.1132f - Definitions; V. - Sec. 12f. "Venture capital firm" means a corporation, partnership, proprietorship,...

Section 38.1133 - Investment Authority; Investment Fiduciary; Investing, Reinvesting, Holding in Nominee Form, and Managing Assets of System; Powers and Duties; Compliance With Divestment From Terror Act; Costs; "Consumer Price Index" Defined; Disclo... - Sec. 13. (1) This act supersedes any investment authority previously...

Section 38.1133a - “Macbride Principles” Defined; Duties of Investment Fiduciary; Effect of Unlawful Principle. - Sec. 13a. (1) As used in this section, "MacBride principles"...

Section 38.1133b - Repealed. 1993, Act 214, Imd. Eff. Oct. 27, 1993. - Compiler's Notes: The repealed section pertained to encouragement or condonation...

Section 38.1133c - Definitions; Effort by Fiduciary to Identify Scrutinized Companies; Assembly Into Scrutinized Companies List; Update and Availability of List; Procedures; Report; Effectiveness of Section; Exemption of Fiduciary From Conflicting St... - Sec. 13c. (1) As used in this section: (a) "Active...

Section 38.1133d - Definitions; Scrutinized Companies; Identification by Fiduciaries; Assembling Scrutinized Companies List; Update by Fiduciary; Procedure; Report; Effectiveness of Section; Conditions; Liability of Fiduciary; Scrutinized Company Aff... - Sec. 13d. (1) As used in this section: (a) "Active...

Section 38.1133e - Prohibited Conduct by Investment Fiduciary, Service Provider, or Covered Associate of Service Provider; Exceptions; Definitions; Official of Governmental Entity. - Sec. 13e. (1) An investment fiduciary shall not make a...

Section 38.1133f - Breach of Public Trust by Investment Fiduciary or Service Provider; "Service Provider" Defined. - Sec. 13f. (1) An investment fiduciary or a service provider...

Section 38.1133g - Investment Committee; Establishment by Large Sponsored System; Duties; Recommendation; Definitions. - Sec. 13g. (1) Subject to a plan for adjustment, each...

Section 38.1134 - Investment in Stock or Global Security. - Sec. 14. (1) An investment fiduciary shall not invest more...

Section 38.1135 - Investment in Investment Companies. - Sec. 15. An investment fiduciary may invest in investment companies...

Section 38.1136 - Investment in Annuity Investment Contracts or Participations in Separate Accounts of Life Insurance Company; Investment in General Account of Life Insurer; Requirements. - Sec. 16. (1) An investment fiduciary may invest in annuity...

Section 38.1137 - Other Authorized Investments; Prohibited Investments. - Sec. 17. (1) An investment fiduciary may invest in any...

Section 38.1138 - Investment in Real Estate or Mortgages on Certain Leased Real Property. - Sec. 18. An investment fiduciary may invest in real estate...

Section 38.1139 - Investment in Real Estate Investment Trust or Real or Personal Property. - Sec. 19. (1) An investment fiduciary may invest up to...

Section 38.1139a - State Treasurer as Investment Fiduciary; Investments in Private Equity; Limitation; Investment Fiduciary Not State Treasurer; Limitation. - Sec. 19a. (1) If the investment fiduciary is the state...

Section 38.1139b - Deduction From Employee Compensation by Public Employer; Automatic Enrollment of Employee; Notice; Investment Alternatives; Liability; Definitions. - Sec. 19b. (1) A public employer may deduct from the...

Section 38.1140 - Investment in Secured Loans; Real Property Not Considered Encumbered; Investment in Part of Obligation or Participation Interest in Loan or Group of Loans; Investment in Real Estate Loan; Investment in Loan or Loans or Certificate o... - Sec. 20. (1) An investment fiduciary may invest in loans...

Section 38.1140a - Investment in Debt, Warrant, or Equity Interest in Small Business, Small Business Investment Company, or Venture Capital Firm; Creation of Small Business Investment Companies or Venture Capital Firms to Invest in Small Businesses;... - Sec. 20a. (1) Except as provided in subsection (2), an...

Section 38.1140b - Deposits by Investment Fiduciary. - Sec. 20b. An investment fiduciary may make interest bearing deposits...

Section 38.1140c - Financial Institution, Trust Company, or Management Company Retained as Investment Fiduciary; Investment of System Assets in Collective Investment Fund, Common Trust Fund, or Pooled Fund Established and Maintained by Financial Inst... - Sec. 20c. (1) A financial institution, a trust company, a...

Section 38.1140d - Investments Not Qualified Under Act. - Sec. 20d. (1) An investment fiduciary of a system having...

Section 38.1140e - Loan of Securities by Investment Fiduciary. - Sec. 20e. (1) An investment fiduciary may loan bonds, stocks,...

Section 38.1140f - Transferring and Holding Securities. - Sec. 20f. An investment fiduciary may use 1 or more...

Section 38.1140g - Investment in Securities Exempt From Taxes. - Sec. 20g. Notwithstanding any other provision of this act, investment...

Section 38.1140h - Applicable Law; Retention of Financial Records; "Financial Records" Defined; Disclosure of Certain Information; Actuarial Valuation; Supplemental Actuarial Analysis; "Proposed Pension Benefit Change" Defined; Availability and Publi... - Sec. 20h. (1) In addition to the provisions of this...

Section 38.1140i - Repealed. 2000, Act 307, Imd. Eff. Oct. 16, 2000. - Compiler's Notes: The repealed section pertained to guaranteed repayment of...

Section 38.1140j - Investment in Derivatives. - Sec. 20j. (1) Subject to qualification elsewhere in this act,...

Section 38.1140k - Investment in Global Securities; Prohibited Conduct. - Sec. 20k. (1) Notwithstanding a percentage of total assets limitation...

Section 38.1140l - Financial or Proprietary Information. - Sec. 20l (1) A record or portion of a record,...

Section 38.1140m - Employer Contribution. - Sec. 20m. (1) The governing board vested with the general...

Section 38.1141 - Removal of Member of Board or Body. - Sec. 21. (1) Subject to this section, the governing board...