Michigan Compiled Laws
Act 314 of 1965 - Public Employee Retirement System Investment Act (38.1121 - 38.1141)
Section 38.1140f - Transferring and Holding Securities.

Sec. 20f.
An investment fiduciary may use 1 or more nominees to facilitate transfer of a system's securities and may hold the securities in safekeeping with the federal reserve system, a clearing corporation, or a custodian bank which is a member of the federal reserve system.
History: Add. 1982, Act 55, Imd. Eff. Apr. 6, 1982

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 38 - Civil Service and Retirement

Act 314 of 1965 - Public Employee Retirement System Investment Act (38.1121 - 38.1141)

Section 38.1121-38.1131 - Repealed. 1982, Act 55, Imd. Eff. Apr. 6, 1982.

Section 38.1132 - Short Title; Meanings of Words and Phrases.

Section 38.1132a - Definitions; A.

Section 38.1132b - Definitions; D to G.

Section 38.1132c - Definitions; I to L.

Section 38.1132d - Definitions; N to P.

Section 38.1132e - Definitions; S.

Section 38.1132f - Definitions; V.

Section 38.1133 - Investment Authority; Investment Fiduciary; Investing, Reinvesting, Holding in Nominee Form, and Managing Assets of System; Powers and Duties; Compliance With Divestment From Terror Act; Costs; "Consumer Price Index" Defined; Disclo...

Section 38.1133a - “Macbride Principles” Defined; Duties of Investment Fiduciary; Effect of Unlawful Principle.

Section 38.1133b - Repealed. 1993, Act 214, Imd. Eff. Oct. 27, 1993.

Section 38.1133c - Definitions; Effort by Fiduciary to Identify Scrutinized Companies; Assembly Into Scrutinized Companies List; Update and Availability of List; Procedures; Report; Effectiveness of Section; Exemption of Fiduciary From Conflicting St...

Section 38.1133d - Definitions; Scrutinized Companies; Identification by Fiduciaries; Assembling Scrutinized Companies List; Update by Fiduciary; Procedure; Report; Effectiveness of Section; Conditions; Liability of Fiduciary; Scrutinized Company Aff...

Section 38.1133e - Prohibited Conduct by Investment Fiduciary, Service Provider, or Covered Associate of Service Provider; Exceptions; Definitions; Official of Governmental Entity.

Section 38.1133f - Breach of Public Trust by Investment Fiduciary or Service Provider; "Service Provider" Defined.

Section 38.1133g - Investment Committee; Establishment by Large Sponsored System; Duties; Recommendation; Definitions.

Section 38.1134 - Investment in Stock or Global Security.

Section 38.1135 - Investment in Investment Companies.

Section 38.1136 - Investment in Annuity Investment Contracts or Participations in Separate Accounts of Life Insurance Company; Investment in General Account of Life Insurer; Requirements.

Section 38.1137 - Other Authorized Investments; Prohibited Investments.

Section 38.1138 - Investment in Real Estate or Mortgages on Certain Leased Real Property.

Section 38.1139 - Investment in Real Estate Investment Trust or Real or Personal Property.

Section 38.1139a - State Treasurer as Investment Fiduciary; Investments in Private Equity; Limitation; Investment Fiduciary Not State Treasurer; Limitation.

Section 38.1139b - Deduction From Employee Compensation by Public Employer; Automatic Enrollment of Employee; Notice; Investment Alternatives; Liability; Definitions.

Section 38.1140 - Investment in Secured Loans; Real Property Not Considered Encumbered; Investment in Part of Obligation or Participation Interest in Loan or Group of Loans; Investment in Real Estate Loan; Investment in Loan or Loans or Certificate o...

Section 38.1140a - Investment in Debt, Warrant, or Equity Interest in Small Business, Small Business Investment Company, or Venture Capital Firm; Creation of Small Business Investment Companies or Venture Capital Firms to Invest in Small Businesses;...

Section 38.1140b - Deposits by Investment Fiduciary.

Section 38.1140c - Financial Institution, Trust Company, or Management Company Retained as Investment Fiduciary; Investment of System Assets in Collective Investment Fund, Common Trust Fund, or Pooled Fund Established and Maintained by Financial Inst...

Section 38.1140d - Investments Not Qualified Under Act.

Section 38.1140e - Loan of Securities by Investment Fiduciary.

Section 38.1140f - Transferring and Holding Securities.

Section 38.1140g - Investment in Securities Exempt From Taxes.

Section 38.1140h - Applicable Law; Retention of Financial Records; "Financial Records" Defined; Disclosure of Certain Information; Actuarial Valuation; Supplemental Actuarial Analysis; "Proposed Pension Benefit Change" Defined; Availability and Publi...

Section 38.1140i - Repealed. 2000, Act 307, Imd. Eff. Oct. 16, 2000.

Section 38.1140j - Investment in Derivatives.

Section 38.1140k - Investment in Global Securities; Prohibited Conduct.

Section 38.1140l - Financial or Proprietary Information.

Section 38.1140m - Employer Contribution.

Section 38.1141 - Removal of Member of Board or Body.