Sec. 71505.
Bonds issued under part 713 are made securities in which banks, savings and loan associations, investment companies, credit unions, and other persons carrying on a banking business; all insurance companies, insurance associations, and other persons carrying on an insurance business; and all administrators, executors, guardians, trustees, and other fiduciaries may properly and legally invest funds, including capital, belonging to them or within their control.
History: Add. 1995, Act 58, Imd. Eff. May 24, 1995 Popular Name: Act 451Popular Name: NREPA
Structure Michigan Compiled Laws
Chapter 324 - Natural Resources and Environmental Protection
Act 451 of 1994 - Natural Resources and Environmental Protection Act (324.101 - 324.90106)
Article III - Natural Resources Management (324.30101...324.83109)
451-1994-III-4 - Chapter 4 Recreation (324.70101...324.83109)
451-1994-III-4-1 - Subchapter 1 Recreation (324.70101...324.73302)
451-1994-III-4-1-ADMINISTRATION - Administration (324.70101...324.71607)
Section 324.71501 - Definitions.
Section 324.71502 - Legislative Finding and Declaration.
Section 324.71503 - Bonds; Requirements Generally.
Section 324.71504 - Bonds Negotiable; Tax Exemption.
Section 324.71505 - Bonds as Securities.
Section 324.71506 - Recreation Bond Fund; Creation; Composition; Restricted Subaccounts.
Section 324.71508 - Use of Fund Generally.
Section 324.71511 - Application for Grant or Loan; Form; Information.