Sec. 8.
The bonds of the 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 295, Imd. Eff. Aug. 11, 1969
Structure Michigan Compiled Laws
Chapter 390 - Universities and Colleges
Act 295 of 1969 - Higher Education Facilities Authority Act (390.921 - 390.934)
Section 390.921 - Higher Education Facilities Authority Act; Short Title.
Section 390.921a - Legislative Determination.
Section 390.922 - Definitions.
Section 390.924 - Powers of Authority.
Section 390.927 - Pledge to Bondholders.
Section 390.928 - Bonds as Investment.
Section 390.930 - Tax Exemption.
Section 390.931 - Bonds; Negotiability; Tax Exemption.
Section 390.932 - Trustee; Appointment; Powers and Duties.