Michigan Compiled Laws
Act 321 of 1909 - Deposit and Safeguarding of Public Moneys of Village (129.41 - 129.45)
Section 129.43 - Limitation on Deposit of Additional Public Funds.

Sec. 3.
Notwithstanding section 1(1), additional public funds of an incorporated village shall not be deposited in a financial institution which is not eligible to be a depository of surplus funds belonging to this state under section 6 of 1855 PA 105, MCL 21.146.
History: Add. 1979, Act 77, Imd. Eff. Aug. 1, 1979 ;-- Am. 1997, Act 45, Imd. Eff. June 30, 1997

<< Previous
Next >>

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 129 - Public Funds

Act 321 of 1909 - Deposit and Safeguarding of Public Moneys of Village (129.41 - 129.45)

Section 129.41 - Public Funds of Incorporated Village; Deposit; Secured Deposits; Limitation on Acceptable Assets; Warrants and Orders; Profits; Liability for Loss; Ordinance or Resolution; Conduct and Inspection of Proceedings; Accrual of Profits to...

Section 129.42 - Security for Deposit Prohibited.

Section 129.43 - Limitation on Deposit of Additional Public Funds.

Section 129.44 - “Deposit” Defined.

Section 129.45 - “Financial Institution” Defined.