Sec. 49.
The notes and bonds of any authority are securities in which all public officers and bodies of this state and all municipalities and municipal subdivisions, all insurance companies and associations, and other persons carrying on an insurance business, all banks, trust companies, savings banks and savings associations, savings and loan associations, investment companies, all administrators, guardians, executors, trustees and other fiduciaries and all other persons whatsoever who are authorized to invest in bonds or other obligations of the state, may properly and legally invest funds, including capital, in their control or belonging to them.
History: 1969, Act 38, Imd. Eff. July 14, 1969
Structure Michigan Compiled Laws
Act 38 of 1969 - Hospital Finance Authority Act (331.31 - 331.84)
38-1969-4 - Chapter 4 (331.71...331.84)
Section 331.71 - Applicability of Chapter.
Section 331.73 - Pledges and Liens; Validity; Recording.
Section 331.73a - Refunding Bonds; Issuance; Purposes.
Section 331.73d - Refunding Bonds; Nonliability of State; Statement.
Section 331.74 - Authority Members; Persons Executing Notes or Bonds; Personal Liability.
Section 331.75 - Bond or Note Holders; Vested Rights, Impairment.
Section 331.76 - Repealed. 2002, Act 436, Imd. Eff. June 10, 2002.
Section 331.77 - Certificate of Need Required; Exception.
Section 331.78 - Bonds or Notes; Negotiability.
Section 331.79 - Bonds and Notes; Legal Investments.
Section 331.80 - Tax Exemption.
Section 331.81 - Bonds and Notes; Tax Exemption, Exception.
Section 331.82 - Nondiscrimination Provision.
Section 331.83 - Construction of Act as to Powers Conferred; Purpose and Intention.
Section 331.84 - Declaration of Necessity; Liberal Construction.