Section 129.14 - Deposit or investment of additional funds; limitation. - Michigan Statutes

DEPOSITORIES FOR PUBLIC MONEYS (EXCERPT)
Act 40 of 1932 (1st Ex. Sess.)

129.14 Deposit or investment of additional funds; limitation.

Sec. 4.

Notwithstanding section 2, additional funds coming into the possession of a county treasurer, township treasurer, school district treasurer, city treasurer or tax collector, or village treasurer shall not be deposited or invested in a financial institution that is not eligible to be a depository of surplus funds belonging to the state under section 6 of 1855 PA 105, MCL 21.146.

History: Add. 1979, Act 84, Imd. Eff. Aug. 1, 1979 ;-- Am. 1997, Act 31, Imd. Eff. June 19, 1997 ;-- Am. 1997, Act 33, Imd. Eff. June 19, 1997