Go To Top capitol dome
Michigan Legislature
Michigan Compiled Laws Complete Through PA 578 of 2018
House: Adjourned until Tuesday, April 9, 2019 1:30:00 PM

Michigan Legislature

Main Content

Act 367 of 1982
Search within this Statute for


SURPLUS FUNDS INVESTMENT POOL ACT

Act 367 of 1982

AN ACT relative to the investment of surplus funds of local units of government of this state in investment pools; to permit the establishment of investment pools by financial institutions; to permit local units of government to invest in investment pools; and to prescribe certain powers and duties of certain local units of government and their officers.


History: 1982, Act 367, Eff. Mar. 30, 1983


© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

DocumentTypeDescription
Section 129.111SectionShort title.
Section 129.112SectionDefinitions.
Section 129.113SectionPlacing surplus funds in investment pool; contract with financial institution.
Section 129.114SectionContract between financial institution and local unit; required provisions.
Section 129.115SectionMaintaining separate account for each participant; monthly statement of transactions; report.
Section 129.116SectionPowers and duties of depository.
Section 129.117SectionDefault in payment of principal, interest, or other income; remedies of depository.
Section 129.118SectionAct as additional authority for investment of surplus funds.
up icon