Michigan Compiled Laws
Act 345 of 1937 - Fire Fighters and Police Officers Retirement Act (38.551 - 38.562)
Section 38.553 - Retirement System Funds; Treasurer as Custodian; Bond; Disbursement of Funds; Execution of Voucher or Warrant; Authorization.

Sec. 3.
The treasurer of the city, village, or municipality shall be the custodian of all funds of the retirement system and shall be required to give a good and sufficient bond to the retirement board for the faithful performance of his or her duties and the safekeeping of all money collected under this act. The bond shall be paid by the city, village, or municipality. The treasurer shall issue warrants for the disbursement of the funds of the retirement system upon the receipt of a voucher signed by at least 2 members of the retirement board other than the treasurer. The treasurer shall not execute a voucher or warrant unless the voucher or warrant has been previously authorized by resolution adopted by the board.
History: 1937, Act 345, Eff. Oct. 29, 1937 ;-- Am. 1945, Act 256, Eff. Sept. 6, 1945 ;-- Am. 1947, Act 229, Imd. Eff. June 17, 1947 ;-- CL 1948, 38.553 ;-- Am. 1989, Act 7, Imd. Eff. May 3, 1989 Popular Name: Act 345

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 38 - Civil Service and Retirement

Act 345 of 1937 - Fire Fighters and Police Officers Retirement Act (38.551 - 38.562)

Section 38.551 - Fire and Police Department Pension and Retirement System; Retirement Board, Members, Election, Appointment, Terms.

Section 38.551a - Short Title.

Section 38.552 - Retirement Board; Powers and Duties.

Section 38.552a - Compliance With Requirements Under Protecting Local Government Retirement and Benefits Act.

Section 38.553 - Retirement System Funds; Treasurer as Custodian; Bond; Disbursement of Funds; Execution of Voucher or Warrant; Authorization.

Section 38.554 - Credit for Prior Service.

Section 38.555 - Retirement Board; Quasi-Judicial Body; Review of Actions by Writ of Certiorari.

Section 38.556 - Age and Service Retirement Benefits.

Section 38.556a - Municipality Having Population of 80,000 or More; Applicability of MCL 38.556(1)(h) to Certain Members.

Section 38.556b - Remarriage of Surviving Spouse; Applicability of Subsection (1) to Municipality.

Section 38.556c - Service Credit for Employment in Transitional Public Employment Program; Payment of Contributions and Regular Interest; Payroll Deduction; Amount in Reserve; Payment of Contributions by Current Employer; Accident, Disability, or Oth...

Section 38.556d - Postretirement Adjustments Increasing Retirement Benefits.

Section 38.556e - Mandatory Subjects of Bargaining.

Section 38.557 - “An Act of Duty,”“municipality” and “Transitional Public Employment Program” Defined.

Section 38.558 - Refunds of Salary Contributions.

Section 38.559 - Contributions of Member; Rate; Deduction From Salary; Appropriations to Maintain Actuarially Determined Reserves; Payment of Deductions and Appropriations Into Retirement System; Prorating Pensions and Other Benefits; Expenses; Pensi...

Section 38.560 - Investments; Transfer and Disposition of Certain Assets.

Section 38.561 - Referendum; Township or Charter Township.

Section 38.561a - Violation of MCL 168.1 to 168.992 Applicable to Petitions; Penalties.

Section 38.562 - Membership of Retirement System.