Security for Deposit Prohibited.

  1. Law
  2. Michigan Compiled Laws
  3. Public Funds
  4. 321 of 1909 - Deposit and Safeguarding of Public Moneys of Village (129.41 - 129.45)
  5. Security for Deposit Prohibited.

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Sec. 2.

Security in the form of collateral, surety bonds, or another form shall not be taken for the deposit of the public funds.

History: Add. 1979, Act 77, Imd. Eff. Aug. 1, 1979


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