Sec. 10.
The provisions of any statute or charter requiring a public official to post bond or obtain a surety bond, the premium on which may lawfully be paid by a public agency of this state, may be satisfied with surety or fidelity insurance coverage furnished by a group self-insurance pool organized under this act, including any deductible amount or other portion self-insured by the public agency itself.
History: Add. 1982, Act 138, Imd. Eff. Apr. 27, 1982
Structure Michigan Compiled Laws
Act 35 of 1951 - Intergovernmental Contracts Between Municipal Corporations (124.1 - 124.13)
Section 124.2 - Intergovernmental Contracts Between Municipal Corporations; Authorization.
Section 124.3 - Furnishing Municipal Service Outside Municipal Corporate Limits; Definitions.
Section 124.4 - Public Utility; Joint Ownership and Operation.
Section 124.6 - Status of Group Insurance Pool, Programs, and Coverages.
Section 124.7 - Intergovernmental Contract; Required Provisions.
Section 124.7b - Misrepresentations; Penalties.
Section 124.11 - Group Self-Insurance Pool Assets; Investment.