Sec. 6.
The treasurer of a participating county shall invest the money in the investment pool with the degree of judgment and care, under circumstances then prevailing, that a person of prudence, discretion, and intelligence exercises in the management of his or her own affairs, not for speculation, but for investment, considering the probable safety of his or her capital as well as the probable income to be derived from an investment of his or her capital.
History: 1985, Act 121, Imd. Eff. July 31, 1985
Structure Michigan Compiled Laws
Act 121 of 1985 - Local Government Investment Pool Act (129.141 - 129.150)
Section 129.141 - Short Title.
Section 129.142 - Definitions.
Section 129.144 - Authorization by Resolution.
Section 129.146 - Standard of Judgment and Care.
Section 129.147 - Separate Accounts.
Section 129.148 - Safekeeping Depositories; Security.
Section 129.149 - Default; Powers of Treasurer.
Section 129.150 - Orders or Warrants; Limitation; Liability for Overdraft.