MCL - Section 129.16

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


129.16 Definitions.

Sec. 6.

    As used in this act:
    (a) "Deposit" includes the purchase of or investment in shares of a credit union.
    (b) "Financial institution" means a state or nationally chartered bank or a state or federally chartered savings and loan association, savings bank, or credit union whose deposits are insured by an agency of the United States government.
    (c) "Governing body" means a council, commission, board, or other official body that has legislative powers over a local public entity.
    (d) "Local public entity" means a county, city, village, township, school district, district, authority, municipal corporation, or any other political subdivision organized under the laws of this state.


History: Add. 1997, Act 31, Imd. Eff. June 19, 1997 ;-- Add. 1997, Act 33, Imd. Eff. June 19, 1997 ;-- Am. 2018, Act 462, Eff. Mar. 29, 2019