Sec. 13.
There is established in the state treasury a special fund to be known as the contribution fund. The fund shall consist of and there shall be deposited in the fund all of the following:
(a) All contributions, interest, and penalties collected under sections 5, 8, 10, and 11.
(b) All money appropriated under this act.
(c) Any property or securities acquired through the use of money belonging to the fund.
(d) All sums recovered upon the bond of the custodian or otherwise for losses sustained by the fund and all other money received for the fund from any other source. All money received in the fund under this section shall be mingled and undivided, except as provided in section 14. Subject to the provisions of this act, the department is vested with full power, authority, and jurisdiction over the fund, including all money and property or securities belonging to the fund, and may perform any and all acts whether or not specifically designated, which are necessary to the administration of the fund and are consistent with the provisions of this act. Interest earnings on cash balances shall not be deposited in the fund.
History: 1951, Act 205, Imd. Eff. June 14, 1951 ;-- Am. 1980, Act 484, Imd. Eff. Jan. 20, 1981
Structure Michigan Compiled Laws
Chapter 38 - Civil Service and Retirement
Act 205 of 1951 - Social Security for Public Employees (38.851 - 38.871)
Section 38.852 - Extension of Social Security to Public Employees; Definitions.
Section 38.854 - Extension of Social Security; Joint Action With Other States.
Section 38.855 - Employee Contributions Required.
Section 38.856 - Employee Contributions; Payroll Deduction.
Section 38.857 - Employee Contributions; Adjustments, Refunds.
Section 38.859 - Political Subdivision; Plan to Provide for Appropriations to Contribution Fund.
Section 38.860 - Nonapproval of Plan; Notice, Hearing; Review by Supreme Court.
Section 38.861 - Political Subdivision; Payments Into Contribution Fund.
Section 38.862 - Delinquent Payments; Recovery With Interest From Political Subdivision.
Section 38.863 - Contribution Fund; Establishment; Deposits.
Section 38.864 - Contribution Fund; Administrative Account, Establishment, Deposits.
Section 38.865 - Contribution Fund; Segregation; Withdrawals.
Section 38.866 - Contribution Fund; Payments to Secretary of Treasury.
Section 38.867 - Contribution Fund; Administration.
Section 38.868 - Annual Appropriation to Contribution Fund for Payments to Secretary of Treasury.
Section 38.869 - Appropriation of All Contributions to Contribution Fund.